Applied Micro Circuits Corp (AMCC) Message Board

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Technology Stocks : Applied Micro Circuits Corp (AMCC)

AMCC 8.450

0.0%

Feb 3 4:00 PM EST

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To: Raymond Duray who wrote (557)	7/6/2000 7:25:34 PM
From: Lucky L	Read Replies (1) of 1805

San Diego, July 6 (Bloomberg) -- Applied Micro Circuits Corp. shares rose 18 percent on speculation the company won a contract to supply high-speed networking chips to Cisco Systems Inc. for a fiber-optic product. Applied Micro shares rose 18 1/16 to 118 7/8 on the New York Stock Exchange, its highest close in a month. The stock has gained 87 percent this year. Companies like Nortel Networks Corp. and Cisco buy Applied Micro semiconductors to combine streams of voice and data traffic for transmission on fiber-optic networks. Cisco has been looking for a high-speed chip and probably chose Applied Micro to supply it, said Goldman, Sachs & Co. analyst Nathaniel Cohn. ``I believe (the speculation) is true,'' he said. ``It's not a big contract win -- no single win can have that much of an impact -- but it's a good validation of their technology.'' Applied Micro Chief Financial Officer Bill Bendush declined to comment. A spokesman for Cisco, the No. 1 network-equipment maker, wasn't immediately available to comment. Shares of Applied Micro fell 9.3 percent on June 7 after the San Diego-based company warned of slowing sales to Nortel, its biggest customer. Applied Micro competitors in high-speed semiconductors for fiber-optics are Vitesse Semiconductor Corp. and Giga A/S, acquired by Intel Corp. Jul/06/2000 16:33 ET --------------------------------------------------------------------------------

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