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Technology Stocks : PMC-Sierra (PMCS)

PMCS 11.65

0.0%

Jan 25 3:00 PM EDT

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From: iod_sherwood	2/7/2001 8:57:07 PM
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It's not over yet! From: sherwood@techie.com Date: Sun Feb 4, 2001 8:27pm Subject: Sherwood's Market Magnets - [February 04, 2001] - PMCS tidbit Finally found this article after I remember reading it weeks ago when PMCS was hit. Once 58-60 is lost, 45-48 should be a cinch. CSCO earnings Tuesday night. Time to stir up more trouble on the chip front. Here it is. dailynews.yahoo.com But what's also hitting PMC-Sierra is its largest customer, No. 1 computer-network maker Cisco Systems Inc. (NasdaqNM:CSCO - news), which Veerappan estimates accounts for as much as 30 percent of PMC-Sierra's sales. ``While in the past PMC could do no wrong because they were allied with Cisco, now that's come back to haunt them,'' Veerappan said, adding that raw material inventories at Cisco rose 355 percent from its fiscal fourth-quarter to its first while sales rose only 13 percent sequentially. --- Chambers doesn't see this unwinding of inventory glut for "several" qtr's yet. And one of the analysts mentioned that it may take a few years before capex spending is "back on track"... still troubling times ahead... iod_sherwood groups.yahoo.com

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