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Technology Stocks : Xicor ?
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To: jeffbas who wrote (2752)12/26/1999 6:43:00 PM
From: steve olivier  Read Replies (1) of 2920
 
Jeff,

Yes it makes sense to write down the Milpitas fab and I expect it either before December 31, 1999 or in connection with the Q4 earnings release in mid Jan.

I have tried several times to make this clear, but nobody seems to get it. When they write down the Milpitas fab, it doesn't mean that they are necessarily going to stop producing chips from that fab in the near term.

All it means is that the inefficiencies from the fab will be eliminated. After the write down, any chips coming off the Milpitas fab during the transition period to being completely fabless, will have a good (normal) margin, closer to what they are achieving from Yamaha production.

If they announce a restructuring charge next week and for some STUPID reason the stock drops, it will be a GREAT buying opportunity.
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