Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Pancho Villa who wrote (2018)	1/30/1998 9:14:00 PM
From: Jeff Jordan	Read Replies (1) of 18691

from Cousin Bob stocksite.com After Thursday's close, Anadigics (ANAD) reported earnings for the fourth quarter of 1997. ANAD is a leading supplier of gallium arsenide-integrated circuits, which are used to receive and transmit radio and microwave signals for the wireless communication, cable television, fiber-optic, and direct broadcast markets. While the company did manage to report good top-line growth, on an operating basis the report was disappointing and alluded to some very unpromising trends in this sector. According to management, ANAD is experiencing a substantial reduction in orders and forecasts from its wireless customers. This was largely due to a reduction in phone-build rates on certain products and suggests that its customers now have excess inventories of ANAD products. That's a death sentence in the near term, likely to cause order cancellations and pricing pressure. I expect shares of ANAD to come under serious pressure Friday, as well as Alpha Industries (AHA) and Vitesse Semiconductor (VTSS).

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