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 : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: LBstocks who wrote (45417)	10/20/1999 1:35:00 PM
From: Ruffian	Respond to of 152472

Also believe Ericy & Nok report this week. eom.

To: LBstocks who wrote (45417)	10/20/1999 1:44:00 PM
From: gc	Read Replies (2) \| Respond to of 152472

Or maybe, today is the PC day. All wireless step aside.

To: LBstocks who wrote (45417)	10/20/1999 3:21:00 PM
From: nbfm	Read Replies (1) \| Respond to of 152472

what growth might be slowing? it sells primarily to nok (70&% of sales). this is what is hitting the telecoms. RF Micro Devices Shares Falls Amid Concern Growth Is Slowing Greensboro, North Carolina, Oct. 20 (Bloomberg) -- RF Micro Devices Inc.'s shares fell as much as 14 percent amid concern that the phone-chip maker's blistering growth may be slowing. RF Micro's shares fell 3 11/16 to 42 7/16 in early afternoon trading of 6.18 million, more than triple the three-month daily average. Earlier, the shares touched 39 5/8. The decline comes a day after the company, which makes semiconductors that help cellular telephones sound clearer and their batteries last longer, gave analysts little reason to boost fourth-quarter estimates. ``I don't think they can continue to give that low guidance,' said Charles Glavin, an analyst with Credit Suisse First Boston who named RF Micro his top semiconductor stock pick for the year. ``They are viewed in many ways as being the bellwether for the wireless market.' Chips for cell phones make up the fastest-growing segment of the semiconductor business. Texas Instruments Inc., the biggest maker of chips that serve as brains for cell phones, said yesterday it expects digital-phone production to rise more than 70 percent this year. `Sweet Wave' RF Micro's shares have almost tripled in the past year. About 70 percent of the company's sales are tied to Nokia Oyj, the world's biggest cell phone maker. RF Micro also has agreements with companies such as Motorola Inc. and Qualcomm Inc., and has expanded to other products such as cable modems. ``They've been riding a sweet wave,' said Glavin, who predicts the shares will more than double in the next 12 months. ``It's been good, and it's going to get better.' Today's decline shows the price a company pays for consistently beating earnings estimates. RF Micro has been conservative about guiding forecasts in part because few on Wall Street believed its predictions of rapid growth, Glavin said. ``Now, people are expecting it,' he said. ``This is just one of these classic Wall Street shoot-from- the-hip reactions,' said Eric Zimits, an analyst with Hambrecht & Quist LLC, who has a ``buy' rating on the stock. RF Micro yesterday reported a fivefold increase in third- quarter profit to $12.5 million, or 15 cents a share. That was in line with the 14-cent average estimate from analyst surveyed by First Call Corp. Until about two years ago, RF Micro relied on defense contractor TRW Inc. to make most of its chips. Now, RF Micro manufactures about 50,000 chips a year at a new plant in Greensboro, North Carolina, where it's based. The company expects that to quadruple in the next two years. About 88 percent of RF Micro's chips are made with gallium arsenide instead of silicon and are based on a military design licensed from Cleveland-based TRW, which is RF Micro's biggest shareholder. Oct/20/1999 13:00 For more stories from Bloomberg News, click here. (C) Copyright 1999 Bloomberg L.P. Any redistribution of Bloomberg content, including by framing or similar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1999 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P.