PMC-Sierra (PMCS) Message Board

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Technology Stocks : PMC-Sierra (PMCS)

PMCS 11.65

0.0%

Jan 25 4:00 PM EST

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To: hey now who wrote (1793)	6/7/1998 9:48:00 PM
From: Thomas Zoran	Read Replies (1) of 3818

Always beware the analyst upgrade bounce. The main reason this stock rebounded was because of the Merril Lynch upgrade. Lynch had also initiated Galileo Tech with an accumulate rating, only to have GALTF warn of missing earnings after the bell Friday. Add that DOIS is also missing earnings and INTC stumbling, and the seminconductor companies will be under increased pressure this week. Furthermore, PMCS only increased revenue by 3% last quarter, its lowest growth quarter ever. This Asia crisis is not a joke, so be careful not to be left hopping on this illegitimate rally when the warnings keep coming. Current price in mid 40s not justified considering industry weakness...expect mid 30s again soon. Tom

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