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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Kim who wrote (2706)	9/16/1999 9:37:00 PM
From: Brian Malloy	Read Replies (1) \| Respond to of 6531

BRCM is to volatile and has too small a market cap for the Top 10. IMHO

To: Bob Kim who wrote (2706)	9/16/1999 11:21:00 PM
From: puborectalis	Read Replies (2) \| Respond to of 6531

...is that they can magically change... In mid-August, we wrote about some confusion regarding Broadcom's (BRCM $113 1/4) price target. Two reports, which went out to a limited audience, indicated the target as being $180. A broadly distributed company specific bulletin listed the target as $157. At the time, we asked for clarification and the response from ML was that the $157 was correct. (See RESTEX.COM Technology Update (08/18/99)). Yesterday, a new report was issued. The new report indicated that ML was reiterating its $180 price target on BRCM. We again asked for a clarification. The response we got was that the analyst had raised it verbally sometime in the past few weeks although it could not be pinpointed when. If the increase did occur in the past few weeks it would, in our opinion, make BRCM's exclusion from the ML Tech Top 10 even more puzzling. Assuming the $180 was in place a few weeks back as ML now insists, then the committee, which determined the ML Tech Top 10, apparently passed over a stock that would have offered the second highest upside potential, and almost 2-3x the upside potential of the chip stocks that were selected. A curious decision, in our opinion.