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Technology Stocks : LSI Corporation

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To: Tech Watcher who wrote (13861)	7/24/1998 1:42:00 AM
From: Andy M.	Read Replies (1) of 25814

Does anyone know how much Gresham will increase their overall capacity? I seem to remember hearing that Gresham will increase overall capacity by a significant percentage and that some foundry work will be necessary to fill it. 90% utilization of current capacity is good, but I'm not sure it means that Gresham capacity will be used up quickly. I wish Wilf could have given more convincing visibility on Q4. At one point he said they would see Q4 better in September. They were surprised by the falloff in June, so visibility is a tricky thing. We would be lucky to get any immediate upgrades following that call. At best it seems that some of these guys might quietly accumulate the stock for a while, because it has maybe been beaten down too much--the pre-earnings selloff seemed to foretell a catastrophe and there might be a relief bounce--before doing any upgrading. To my ears, the call had a weird mix of confidence about products and positioning with caution about actual results. We'll see. I actually wish I had some money because buying at these levels seems pretty safe. Andy

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