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Technology Stocks : Linear Technology Corporation

LLTC 65.00

0.0%

Mar 20 5:00 PM EST

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To: ken Su who wrote (537)	7/22/1998 5:36:00 PM
From: Barry Cartwright	of 754

For those who did not have the pleasure to listen to the conference call. From what was said, OEM fell asleep in May and June but in July came to life and had strong interest in quotes and possible shipments. Unusually high amount of customers ordering for immediate delivery. Large Cell Phone customers slowed bookings but are inquiring again. Inventory is not an issue and may actually be low. Looking for 10% top line growth for 1999 with a slow start. Tax rate will decline. New products are doing well, OEM designs are being completed and going into production. Some pricing pressure but new products are offsetting. Cash is 71% of Assets. Some unknown factors such as why the drop in May June, looks like the only reason is a drop in lead times, not demand. J.P. Morgan analysts points out that a drop in lead time and drop in inventory may indicate overall drop in demand?????? There is your ultimate unknown, can they pickup in the second half to offset first half? Is it demand or is it just timely purchases by OEM and distributors?

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