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Technology Stocks : p-com (pcms) -- Ignore unavailable to you. Want to Upgrade?

To: lazarre who wrote (1423)	6/23/2000 5:39:00 PM
From: Rob Preuss	Respond to of 1461

What do I think? I think I've never had much faith in PCMS. Especially not in their management. Mostly I watch what's going on with PCMS because they are a DMIC competitor. As you know, I am a strong proponent of DMIC. Still, I bought and sold a few shares of PCMS from time to time... and made a few dollars. Mostly I've missed their big moves up (and been a little jealous when I've seen others catch these moves). Your theory that PCMS could be ripe for a takeover is an interesting one. Any potential buyer would need to ask whether its better to buy or to grow the technology in-house... if they already have the tech resources to do it in-house (as I suspect they might if, as you suggest, they're only trying to fill a hole in their portfolio), then the only advantage to buying is a faster time-to-market. But would that be enough? I think the PCMS P-MP technology is behind that of Netro (which, in turn, is behind that of Ensemble) so your theoretical buyer would have to be buying PCMS for whatever PCMS has up its sleeve in the realm of new unreleased products/technology. But if PCMS has something very attractive up its sleeve in the realm of new unreleased products/technology... would PCMS management be willing to sell to a buyer? My guess is no, not unless they were terribly desperate to get into someone's deep pockets and so were effectively forced to sell... I think this management would rather stay on board. So that's what I think - I don't see much chance of a takeover (unless things get truely desperate for the management). Have you got more to say about why you think that PCMS might become a takeover target? Rob