VTSS mentioned in this article:
Mine Internet And Wireless Stocks For Opportunities, Portfolio Manager Landis Advises Investors At Forum
SAN DIEGO--(BUSINESS WIRE)--Nov. 10, 1998--Wireless and Internet stocks, particularly in the e-commerce and infrastructure sectors, hold the most potential for investors eyeing technology stocks, a top portfolio manager said Sunday at an investors forum in San Diego.
Kevin Landis, portfolio manager of the Technology Value Fund and co-founder of Silicon Valley-based Firsthand Funds, advised investors to "pick a trend you can believe in, identify the best positioned and best managed companies, pick your price and be patient. That process leads investors into owning such stocks as Microsoft and Cisco."
Landis' wide-ranging talk focused on Internet and wireless communications stocks. He sees considerable upside in both industries.
"The most obvious investment trend is the Internet," Landis told attendees of the Informed Investors Electronics & Technology Stocks Forum. "There are a collection of industries springing up with the Internet. In addition to content providers and the infrastructure players, the next group just starting to be felt are the e-commerce players."
Landis, who was one of three portfolio managers highlighted in Barron's most recent technology issue, said in his opinion the best stock values are found among Internet chip companies supplying the basic technology of Internet infrastructure.
"If you believe in the Internet, you have to believe in companies such as PMC-Sierra (Nasdaq:PMCS) and Level One (Nasdaq:LEVL), who help to provide that bandwidth that carries the traffic," Landis said. "Those and others, like Vitesse Semiconductor (Nasdaq:VTSS) and Applied Microcircuits (Nasdaq:AMCC), are selling at close to market multiples even though they are directly tied into the most exciting thing in high tech today, the Internet. There's also a very hot company, Broadcom (Nasdaq:BRCM), which has nice exposure to networking as well as cable modem chips."
In wireless, Landis said the much of the world's population still lacks basic "connectivity" and that wireless infrastructure would likely be the choice to build out their communications systems. Numerous companies positioned to dominate are currently selling at reasonable multiples because of the Asian financial crisis. Qualcomm (Nasdaq:QCOM) is well positioned, Landis said, as is P-Com (Nasdaq:PCMS) among smaller companies providing wireless subsystems.
In addition to Landis' talk, attendees heard an in-depth discussion of the semiconductor capital equipment industry from Theodore O'Neill, an analyst at Needham & Co. He discussed in great detail the prospects for the beaten-down semiconductor capital equipment industry and stocks.
In addition, executives presented from seven technology companies: Caere Corp.; TriQuint Semiconductor; Watkins-Johnson; Optical Coating Lab; Genesis Microchip; Interlinq Software; and ATI Networks.
Audio tapes of the entire Forum are available for $48.95. A transcript of the keynote speakers' remarks is available for $25. For details, visit Informed Investors' website at www.informedinvestors.com or call 800/992-4683.
Since 1993, Sacramento-based Informed Investors has featured scores of quality companies and industry experts at its Forums. Informed Investors is the only independent organization that regularly offers analyst-style, industry-specific conferences geared for individual investors.
CONTACT:
Informed Investors, Inc.
Sean Finnigan, Steve Chanecka or Tim Quast, 916/448-8222
or 800/992-4683
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