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Technology Stocks : Applied Micro Circuits Corp (AMCC) -- Ignore unavailable to you. Want to Upgrade?

To: Bulldozer who wrote (196)	10/12/1999 12:16:00 PM
From: Bob Kim	Read Replies (1) \| Respond to of 1805

Bulldozer, Did you notice that ML raised its estimates about 20%, but LOWERED its price target from $86 (last Friday) to $83 to keep the implied upside potential below 20% and thus avoid having to upgrade the near-term rating to Buy. The irony is that because of the target reduction, AMCC will move into downgrade territory above $75 1/2, at which point, I would guess that ML will raise the price target to some level, perhaps $86, that's at least 10% higher.

To: Bulldozer who wrote (196)	10/12/1999 4:37:00 PM
From: Trader Dave	Respond to of 1805

Whoa BD! Big Difference! We did much of our pmcs buying when it had forward pe ratios of 20 to 40 times forward estimates. While I share your enthusiasm for AMCC's prospects, AMCC's forward PE is around 65 times. Longer term, if the growth is as powerful as we hope, it won't make much difference at all, but short term, there's plenty of downside risk too. TD

To: Bulldozer who wrote (196)	10/12/1999 4:40:00 PM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 1805

care to tease us with a few tidbits from the CC, BD? i gather AMCC hasn't opened them up to Joe Q. Public just yet ... haven't found anything on the web. for starters (heh heh), i'm curious: 1) did AMCC breakout CMOS, bipolar and SiGe as a percentage of revs? 2) comm revs now at 81%, so i presume military/HSC (e.g., Raytheon) has finally gone the way of Reagan's noggin, space-based lasers and the CRAY? (not to mention ATE) 3) ASSPs vice ASICs? fitty-fitty? sounds like Rickey's got his old mates at NorTel locked up tight: 36%(!) this quarter. yikes. sorry to be a pest. but it's not like you've got time to eat with all these earnings reports and CCs to attend to, eh? sm:)e -chris.