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Technology Stocks : LSI Corporation
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To: Jock Hutchinson who wrote (15722)10/16/1998 10:23:00 PM
From: akmike  Read Replies (2) of 25814
 
Jock-thanks for the usual superb cc summary. I share many of your concerns for LSI's profitability for the next 9 months. The share price impact could be 3-6 mo. however depending on how much forward visibility evolves. I don't understand how your thesis of y2K hogging corporate IT budgets specifically becomes so much doom and gloom for LSI. I could easily be off on my assessment but looking at LSI's 6 new operating divisions this is how that stacks up to me: consumer-neutral; networking-positive;storage components-positive;telecommunications-neutral;computer applications-negative;storage systems-neutral. net-net=neutral. Surely not a disaster?
I don't think we can project the Symbios margins from the 3Q breakout or even 4Q if we were to get such a breakout. LSI has moved very rapidly to assimilate this acquisition and everything from design to sales (vice-versa?) has changed. I would certainly hope that LSI's manufacturing yields at Gresham will be better than Colo., for example.
At any rate, I wouldn't see the stock going up much in the near-term and who knows where the bottom will form. Sideways for 5-6 months is my best guess but as we have seen over and over again this sector of the market doesn't lack for volatility and a sudden move up or down anytime shouldn't surprise. For those of us that got on board too early most of the world doesn't care and some of us will be true die-hards. Best of luck to all,

Mike
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