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Technology Stocks : Broadcom (BRCM)
BRCM 54.670.0%Feb 9 4:00 PM EST
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To: FR1 who wrote (5575)3/1/2001 6:22:13 PM
From: Logain Ablar   of 6531
 
FR1:

You may want to read a GAAP guide before you think this is short bashing.

You also have to factor in the analysts interests. Like has this analyst had a buy rating from the high 100's? If he did you should probably buy when he puts a sell on the stock. As for your comment on the analysts they don't even understand it.

You can expect to read about an SEC investation into this company within 8 weeks (the company should be receiving a letter within 2 but they won't release that tidbit till later). You can also bet the audit firm is now looking into this (not just the local office but the head quarters).

You may want to go to the SEC website and read Staff Accounting Bulletin 101 (incl updates a & b). I don't beleive it addresses this issue specifically but it will give you a feel on how the SEC wants companies to record / recognize revenue.

There is a distinction between agressive marketing and how you account for the agressive marketing. You may also want to check out QLGC's 10k and you will see how they treat their warrants (a reduction in gross sales).

The market should provide a good bounce for the next day or two and longs should consider selling into the rally. Todays low will not hold if the market rally fails early next week.

Good luck

Tim
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