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

To: MulhollandDrive who wrote (344)	2/10/2000 5:17:00 PM
From: Trader Dave	Read Replies (1) \| Respond to of 1805

Justifying a 400 pe by saying that amcc is cheaper than an internet company with no earnings is the work of a prostitute desperate to get the fees associated with secondary offerings and M&A transactions. I saw the piece and was sickened by it. Very simply, it is absolutely reckless ala Henry Blodget of Oppenheimer (er uh Merill). But despite Gilder's mindless commentary in ASAP about the imminent death of SONET, AMCC is well positioned to sustain extremely high rates of growth for a long time. (Gilder's mistakes are worth being aware of because he is smart enough to sound prescient when he is often wildly inaccurate.) I take some comfort in owning an over priced high growth and profitable company as opposed to owning an overpriced profitless internut or an overpriced low growth old line company. AMCC is probably a year ahead of itself in valuation in my opinion. It's time for me to get pencil to paper and figure out if it's more than that. If it's two to three years overpriced, it's time to take a slug off the table. It may be a new economy, but economics 101 will ultimately prevail. TD