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Politics : High Tolerance Plasticity

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To: kodiak_bull who started this subject	6/25/2001 9:08:19 PM
From: energyplay	Read Replies (1) of 23153

AMCC comment by Cramer - minus 60% revenue decline ! Applied Micro's Visibility Is Clear: Storm Clouds Ahead By James J. Cramer 6/25/01 8:04 PM ET URL: thestreet.com It turns out that Applied Micro (AMCC:Nasdaq) had visibility after all! Visibility to see how awful and horrible the quarter was! Monday night's preannouncement will come as no surprise to those of us who have pounded this thing as a short day in and day out to anybody who would listen. Still, the magnitude of the decline is quite stunning. Going into the year, people figured AMCC for $400 million in revenue -- conservatively. Now it looks as if $150 million is more like it, if AMCC is lucky. The problem with that is Applied Micro is a large-capitalization name that doesn't deserve to be large. It is a large growth company turning into a small cyclical company. When that happens, those who were betting that it was something else will have to sell. It will end up being against their charter! That's fine for these fund families that have large-cap and small-cap funds under their wing. They can just swap it! I am not being facetious. With the games these tech folks play these days, nothing would surprise me. The simple fact, though, is that AMCC is no longer deserving to be a large-cap nor a growth stock. And so it will be under liquidation for a long time to come. Another name that if you are trapped in, you have to hope for a takeover rumor to get out. Otherwise you are dead meat.

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