Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Rockwell-Spins off Conexant (CNXT) -- Ignore unavailable to you. Want to Upgrade?

To: banker's lady who wrote (238)	6/16/1999 10:05:00 PM
From: w molloy	Respond to of 2013

Semis Steal the Show (from Street.com) By James J. Cramer 6/16/99 Holy cow! A theme! We have a theme. Something that can transcend CPIs and Greenspan speeches and wage pressures. Something to buy again! Yippee! Yep, that's how the institutional money managers out there are thinking right now about the semiconductors. No matter that it has been going on for weeks upon weeks now, when it comes to themes, money managers think it is never too late to join the party. We have seen this pattern before. Large-cap growth was a prevailing theme until Dell (DELL:Nasdaq) and Pfizer (PFE:NYSE) kiboshed it. (Doesn't mean they can't come back, so please don't email me. Just history we are speaking about now.) Oil service prevailed for about two years before those stocks got so high and there were so many new issues that it got old and sated -- and, well, bad. And, of course, the Net was a theme before it got poleaxed by a plethora of dot-coms, which wiped away the precious scarcity value of the Net offerings. (Again, don't email me -- it can come back. Blah, blah, blah.) But right now the semis have stolen the show. They've done it by having a whole host of positive factors coalesce. So let's go over what forms a theme and why it will be impervious to the CPI, no matter how crummy it is (and why this group is nirvana if the number is good). 1.Asia came back. Semis were a huge Asian play to begin with. Oh, we didn't want to admit that, but this group took its hits in '97 when Asia collapsed, and now it can be played in tandem with a reversal of Asian fortunes. 2.Lots of Net activities need faster, better semiconductors. Once we all realized that the RBOCs would simply screw it up again, we had to turn to the semiconductors to speed up the Net. And they are accomplishing that. (An aside: My cable modem, which had been down, got fixed yesterday, and my 7-year-old daughter could not be pried from Go's comic-book section.) 3.Texas Instruments (TXN:NYSE) reinvented itself successfully as a communications-chip company. This is a truly fantastic turnaround that has many people gawking at the earnings explosion. 4.Conexant (CNXT:Nasdaq) blew the numbers away, the only legitimate preannouncement to the upside we have seen so far this quarter, and a lot of that is in mixed-signal chips (the old Brooktree) that are in high demand. 5.DRAMs stopped mattering as much to the group, thank heavens. 6.Intel (INTC:Nasdaq) did not blow up. I could go on and on, but suffice it to say when you get a theme like this, the first reaction of the skeptics is that it is already too late, the cycle has been missed and the latecomers are now coming in. I don't buy that. Asia just turned. No greedy investment bankers are printing up semi offerings to sate us before we can make big money. And the companies themselves are seasoned -- they have seen downturns. They understand cyclicality. They won't screw it up.

To: banker's lady who wrote (238)	6/17/1999 4:19:00 PM
From: w molloy	Read Replies (2) \| Respond to of 2013

Joe Osha on CNNfn - synopsis biocognizance.com Re: Joe Osha at MER, price targets for TXN, ADI, BRCM, VTSS, PMCS,... From: Marilyn Smilie Date: 17 Jun 1999 Time: 08:28:22 Remote Name: 209.224.198.11 Comments Joe Osha at MER, price targets for TXN, ADI, BRCM, VTSS, PMCS, CNXT, GALT Joe Osha, semi conductor analyst at Merrill Lynch Upgraded a bunch of semi conductor stocks a few day ago, calling for higher earnings Looked at rate of industry growth and decided it was too low TXN $155 price target ADI Analog Devices target $152 BRCM Broadcom target $150 VTSS Vitesse semicond. Target $74 PMCS PMC Sierra target $74 CNXT Conexant systems target $66 GALT Galileo tech target $45 Thoughts on Y2K: they are watching it, no evidence for major slow down Last changed: June 17, 1999

To: banker's lady who wrote (238)	6/18/1999 3:40:00 PM
From: w molloy	Read Replies (1) \| Respond to of 2013

Analysts Boucher Of DLJ, O'Neil Of Needham To Keynote Informed Investors Semiconductor Stocks Forum July 10 PALO ALTO, Calif.--(BUSINESS WIRE)--June 18, 1999--After a downturn of almost three years, are semiconductor chip and equipment manufacturers primed for the next wave of growth/profitability? Do the stocks -- already well above their 52-week lows -- have more room to run? For insight into the latest developments in the semiconductor industry, plan on attending the Fourth Annual Informed Investors Silicon Valley Semiconductor Stocks Forum Saturday morning July 10, 1999 at Hyatt Rickey's in Palo Alto. Charles Boucher, Semiconductor Analyst at Donaldson Lufkin Jenrette, and Theodore O'Neil, Semiconductor Analyst at Needham & Co., will discuss trends and issues driving the industry and what companies are likely to benefit. In a recent interview on Informed Investors Forum's weekly radio show, Boucher said the semiconductor industry is a year into a recovery that should last another 2-3 years. ''The components business, backlog growth, equipment strength'' indicate the business is on a major upturn, according to Boucher. Asked whether stocks have topped out, Boucher said, ''We think there is a lot of room left,'' adding current prices have not even begun to discount the possible growth in profitablity attainable from here to 2001. Industry growth will be fueled by strength in several sectors, particularly communications and broadband networking, taking advantage of the popularity and buildout of the Internet, Boucher said. ''Companies that are pure play beneficiaries are PMC Sierra (Nasdaq:PMCS - news), Broadcom (Nasdaq:BRCM - news), MMC Networks (Nasdaq:MMCN - news), Conexant (Nasdaq:CNXT - news), TriQuint Semiconductor (Nasdaq:TQNT - news), and Vitesse (Nasdaq:VTSS - news),'' he said. Boucher's three top picks currently are: Micron Technology (Nyse:MU - news) -- ''the DRAM market is near a turning point''; National Semiconductor (Nyse:NSM - news) - ''a nice turnaround story, having sold off two divisions and leaving behind a very attractive business''; and Galileo Technology (Nasdaq:GALT - news) - ''a pure play on high-speed network switching equipment.'' In addition to the analysts, senior management from up to eight semiconductor companies will give presentations to investors. The companies will be announced later. The Forum will run from 8:30 a.m.-1:30 p.m. Cost is $25 prepaid, $40 at the door. For details and updates, go to www.informedinvestors.com or call 800-992-4683. Since 1993, Sacramento-based Informed Investors Forum has featured scores of quality companies and industry experts at its Forums.