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Non-Tech : Amati investors

AMTX 1.615

-3.9%

11:47 AM EST

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To: jbershad who wrote (29663)	12/4/1997 10:23:00 PM
From: SteveG	Read Replies (2) of 31386

<where did you get this article?.> It's from H&Q's report. It came out last week (BEFORE TXN lost their COMS business to ADI). <That assumes 12x P.E. ratio for 99 and 15x for this year.> Current (TTM) P/E is approx. 35. ( biz.yahoo.com ) H&Q's projected two year growth rate is 32%. First Call 3-5yr projected growth rate is 20+%. (Again, this is likely high as it does not factor in the recent loss of 3COM business, reported to be approx. 5% of TXN revs. I haven't seen a margin figure for this business to adjust earnings by). I personally think TI is a great company, and owned it without question (until a couple of weeks back) since Jan. I think there are some concerns going forward, however - in the leading DSP business through commoditization of DSPs as well as competition from FPGA ASICS. And in the lower margin DRAM and non-DSP semi business (approx. 2/3 of IC business). So I am looking to possibly re-enter in the 30's. Steve

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