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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: Bulldozer who wrote (2164)	10/9/1998 4:57:00 PM
From: Robert G. Harrell	Read Replies (1) of 3818

Bulldozer, Thanks for the info. I was worried that something negative may have leaked out due the accelerating drop at the end of the day. Jabil's earnings release and conference call this week would suggest that the Merrill Lynch guy is all wet. Below is a portion of the Motley Fool's conference call synopsis. You can listen to the entire CC right on Jabil's web site. You just go to the investor relations page and click on "listen to conference call." It is really neat. I think they said 50% of their networking business is from Cisco and 3Com. Since they described a significant upturn in their business with the networkers and they assemble the products that contain VTSS chips, it seems reasonable to assume that VTSS's business is good too. From Fool synopsis: Near-term revenue and operating profits are expected to rebound more sharply in Q1 than previously anticipated, with revenue now expected to increase by 42%, reflecting the first full quarter of contribution from the former H-P facilities and growth in all business segments. Production levels in communications, peripherals, and computer segments are anticipated to rebound briskly in the fiscal first quarter and equal or exceed targeted growth rates on a sequential quarterly basis throughout the remainder of the fiscal year. The communications segment is expected to account for slightly more than 40% of Jabil's total revenues in FY99 as revenue growth meets or exceeds 30% on an annual basis. Jabil announced that it had begun a significant new manufacturing relationship with Nortel Networks, formerly Bay Networks. (This is the unnamed new communications customer mentioned in the last quarterly conference call.) Nortel Networks is currently in the process of consolidating from approximately ten current suppliers and has chosen Jabil as one of its few global contract manufacturers. Current plans call for modest production in Q1, with increasingly significant levels of production in Q2 through Q4. Management anticipates that Nortel Networks may account for at least 10% of Jabil revenues by the end of FY99. fool.com Sure hope I've interpreted this correctly. I chased this puppy down trying to catch the falling knife because I thought the reasons for selling were wrong. If I'm wrong my account may bleed to death. I've traded this stock successfully several times over the last couple years but may give up all my gains with this play. Well, I'll enjoy the good run up today and let Monday bring what it will. Have a great weekend all. Bob

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