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Technology Stocks : RF Micro Devices (RFMD)

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To: Warpfactor who wrote (1266)	11/10/1999 7:15:00 AM
From: lazarre	Read Replies (1) of 4849

<<PE had no meaning whatsoever.>> Yeah, I agree. 4/5ths of my portfolio is peppered with NO pe stocks at all. And then there sits RFMD, my value play, with a PE of over 100. Acouple of thoughts. I believe this wireless avalanche is sustainable. I mean more than just 2 or 3 years of sustainability. A year ago we were all sharpening our knives over the huge infrastructure end-run around fixed line telcom, whose growth is still incalculable, though some folks try to divine it....what was it, 60%+ of the world pop still hasn't made a telephone call yet? And if that wasn't enough, we are now entering the early stages ( who knew as recently as last xmas? ) of INUT access via wireless " appliances " where both DSP and GaAs ICs as well as RF components will be central to development and production. Everyone...and I mean everyone and their uncle is racing to be first in their respective sub sectors of INUT/data/video access. A word about TQNT which languished for months early last year while RFMD and then VTSS went bonkers. Importantly, TQNT had no capacity to guarantee the likes of an ERICY or NOK or any player, a near guarantee flow of chips for their production schedules; I view TQNT as a poster child for the more successful RFMD and what to expect from RFMD in y2k and y2k1. TQNT finally caught their stride when their new fab ramped the recent 2 q's and proved itself to current and potential customers ( look @ their chart! ). Towards the last half of y2k RFMD's new fab is expected to increase capacity by about 100% ( stand corrected if I am wrong about that number and please post the error of my ways ). Barring catastrophe or an inflation whammy, my hunch is RFMD will be in mid triple digits by the end of next year. Which for us long termers is real swell. For traders, no clue what it might mean. L

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