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

To: Raymond Duray who wrote (597)	8/4/2000 12:30:48 AM
From: Joanne Fishman	Read Replies (2) \| Respond to of 1805

Any stockholders here? Did you read the notice for the annual meeting 8/29/00? Aside from voting for the directors and auditors, we're voting to increase the number of shares of common stock by 450,000,000 to a total of 630,000,000 shares! In the notice, the company says when the shares are actually used they indeed will be dilutive. The purpose of the increase is to give AMCC the "flexibility" to issue shares for such things as raising capital, declaring stock dividends, making acquisitions, etc. Certainly acquisitions seem to be on the horizon. In its SEC 10K filing, AMCC says it is exploring alternatives for the further expansion of manufacturing capacity, including either building or buying a new wafer fab. A subhead on p. 15 reads: "If we do not successfully expand our manufacturing capacity on time, we may face serious capacity constraints." And presumably AMCC will continue to buy new technologies. But Board says it "has no present intention of approving a stock dividend." Any comments? --Joanne