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: BWAC who wrote (1566)	9/25/2001 5:45:55 PM
From: techanalyst1	Read Replies (1) of 1805

Well... estimates are for a loss. And I haven't seen a company in this environment that has actually made money when they were estimated to lose. I heard from a guy who used to work at AMCC who went to the annual meeting that David Rickey had said that they would come in with revs about where they came in last quarter. (I didn't go, so I have to take his word for it. I've met him and he seemed to be an honest person, so I have no reason to think he wasn't being truthful). That is below consensus. The meeting was the end of August. The stock started selling off when Barron's ran that article on how expensive the semis are from a historical basis and then accelerated when they started the recent roadshow, so I assume it has to do with what was said, and vtss warning and jdsu guiding lower, etc... I know it's not a lot of money they are losing, but I've seen alot of companies go from cash flow positive to break even to losing a little to losing a lot pretty fast this year. If cap ex continues to decline, could be a while before we see increased revenues. Btw... this guy also told me that David Rickey said that they expected a modest uptick in the first quarter of their FY. That would be after March. He also said that he asked about a share buy back and David Rickey was pretty quick to say, "NO! Cash is king!" I remember last year he said he hates debt. So... I was really surprised to see that amcc even announced a buy back. At one time they wanted to use some of the money to build another office and fab in San Diego. It could be that some of it has been spent, I don't know. TA

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