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To: jjkirk who wrote (5421)	9/28/2000 1:25:14 AM
From: jjkirk	Read Replies (2) \| Respond to of 13572

AMCC - Applied Micro Circuits $202.69 +4.94 s/l $184.75 Sector - Semiconductors Founded in 1979, Applied Micro Circuits Corporation (AMCC) designs, develops, manufactures and markets high-performance, high bandwidth silicon connectivity for the world's communications infrastructure. The company utilizes a combination of high-frequency, mixed-signal design expertise, higher layer digital content and multiple silicon process technologies to offer integrated circuit products for the data and telecommunications markets, with a strong focus on SONET/SDH, ATM, Gigabit Ethernet, and Fibre Channel solutions. AMCC is positioned to provide industry-leading, fiber-to-switch silicon solutions, including framers, mappers, PMD, and physical layer devices. AMCC's core technologies also address automated test equipment (ATE), high-speed computing and military markets. A downgrade earlier this month from Paine Webber sent shares of Applied Micro Circuits from a high near $210 back to $171. Analysts there said the downgrade was based primarily on valuation. AMCC has spent most of the month consolidating between $175 and $200. Last Thursday after the close, AMCC announced that it had acquired privately held SiLUTIA. The company said the transaction would be non-delutive to earnings for the current quarter and forward-looking basis. Analysts at Robertson Stephens approved of the deal reiterating a Strong Buy rating on AMCC last Friday. Analysts suggest the engineering talent SiLUTA brought to the table will help accelerate AMCC's ability to enhance products. They also believe the chip company is on track with their revenue and earnings for the current quarter. These comments hit the street the same day as the Intel warning. AMCC fell to support near $181 and rebounded to close near $200. While the SOX index has continued to loose ground this week, AMCC has held up very well. On Monday, AMCC moved up to a new 52-week high at $214.25, but profit taking brought the chip company back down near $200. Today, AMCC managed to come away with a 2.5% gain, as the broad markets tried unsuccessfully to find firm ground. The 5 and 10-dma are plotted tonight at $197.39 and $191.05 respectively, and support should be found at those levels. Several technical indicators have rolled over and are pointing south, however today's volume at 8.0 million shares would indicate there may be bulls lurking in the bushes. If support at $197 were penetrated with conviction, we would stand back and let the dust settle before trying to find an entry. If the bulls come a knocking, we would certainly consider initiating a new position in AMCC. Average Daily Volume = 5.36 mln 52-week: High = $214.25 Low = $23.14 Next Earnings 10/11/00 = 0.23 versus = 0.08 Chart = stockbottom.com From StockBottom.com