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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

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Aug 24 5:00 PM EST

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To: nic who wrote (12372)	11/8/1997 1:35:00 PM
From: Douglas Nordgren	Read Replies (1) of 29386

nic, I interpret Kinnard's "buy" as a "long term buy." The downgrade from "strong buy" is Kinnard's capitulation to the current market for fibre channel products. Dain Bosworth downgraded CPCI from "buy" to "neutral" when CPCI preannounced lower 4Q earnings due to sluggish FC deliveries. "Our fourth quarter started with good momentum but a combination of factors occurred simultaneously that will impact our results this quarter," said Robert H. Kill, Ciprico President and CEO. "Several of our OEM and end user customers delayed orders until next quarter, due to their own product delays and issues around Fibre Channel connectivity. Ciprico's fiscal 1997 will still end with record sales and earnings and we look forward to continued growth in 1998." CPCI isn't the only FC company dealing with product delays and interoperability issues. Personally, I would rate the FC industry a "long term buy" or "hold," right now, depending on the company and how deep you're in it or wanna get in it. IMHO, Douglas

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