After market the stock is down to as low as $40.5/shr! I wonder who are the people selling?!! Anyway reading the earnings report I particularly like the following:
``With communications chip sales leading the way, LSI Logic is poised for accelerated growth in the second half of the year,'' said Wilfred J. Corrigan, LSI Logic chairman and chief executive officer. ``Based upon our bookings momentum and the global demand for our communications solutions, we now expect communications products to reach 50 percent of the company's revenues by the end of the third quarter.'' The company had earlier projected that communications products would grow to 50 percent of revenues by the end of the year.
LSI Logic Communications Overview
``LSI Logic's communications chip business is ahead of plan and is now projected to grow 65 percent this year, coming from a broad array of products and markets including networking, broadband, wireless and set-top boxes,'' said John Daane, LSI Logic executive vice president of the Communications Products Group. ``Our balanced strategy of internal product development and targeted acquisitions strengthens our competitive position in rapidly expanding communications markets.''
If wireless is going to be as a huge growing secotr as I strongly believe it would be, LSI is going to a huge high flyer during Q4 of this year.
Regards, |
