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Technology Stocks : Broadcom (BRCM)
BRCM 54.670.0%Feb 9 4:00 PM EST
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To: Keith A Walker who wrote (2752)9/22/1999 9:03:00 PM
From: puborectalis  Read Replies (1) of 6531
 
Deutsche Banc Alex.
Brown sees a buying opportunity with the recent weakness in the stock, and has upgraded BRCM today to a
"strong buy" from a "buy" and set a 6-12 month price target of $150. The firm sees the following positives for
Broadcom: "extremely strong" business across all product categories, the recent Sony/Cablevision deal
which highlights strong demand in the cable set-top market, rapid acceleration in the company's gigabit
ethernet chips, and increasing market share in the fast ethernet transceiver market. DB Alex. Brown analysts
note that the recent sell-off has been due both to the Taiwan earthquake and the Motorola (MOT) agreement
to acquire General Instruments (GIC). The analysts make the same points that Broadcom's CFO did
concerning the earthquake. As for the MOT/GIC deal, there have been fears that Motorola's chips will supplant
Broadcom's within GIC set-top boxes (GIC is BRCM's largest customer), but DB Alex. Brown downplays this
risk. The analysts argue that MOT is already a customer of BRCM chips, and that BRCM's single chip
solution for set-top boxes to be rolled out in mid-2000 will distance it from the competition and make it
unlikely that BRCM will lose the GIC business. The research report calls Broadcom "a core holding in the
communications semiconductor group, and an indirect way to play the growth in Internet infrastructure."

Don't forget Blodgett.....http://www.restex.com/t_092399_target_tech.htm
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