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

To: Techplayer who wrote (738)	10/12/2000 6:27:10 AM
From: Monty Lenard	Respond to of 1805

No I am not short nor long but it has been good to me. I try to be flat on any TRADE going into earnings. :-) Monty

To: Techplayer who wrote (738)	10/12/2000 1:37:38 PM
From: SJS	Read Replies (1) \| Respond to of 1805

Tech.... We talked about this (TXCC, EXAR and PMCS) were the others on the SCMR thread. I mentioned I was very high on these 4 companies as the best of the best in comm chips. Sure, they've suffered too, and still have higher valuations, but if you review what they've done, and are doing, it's compelling (I think you know that....but it's worth mentioning again): Grace, Hi there. I agree some of these comm chip stocks are pricy stocks, but they have a history of beating earnings estimates, great revenue growth, increasing earnings guidance from analysts. After all, they mostly stayed strong today, I and do like that alot. _____________ Applied Micro Circuits (AMCC) 175 +7 17/64: AMCC is enjoying the market's reaction to last night's Q2 earnings release today as the analysts are roundly applauding the chip maker's results. Four firms have reiterated their highest ratings on AMCC today, and the enthusiasm is well placed. AMCC beat the Street by three cents on the bottom line, posting net income of $35.7 mln or $0.26 per share. More impressive was the company's 31% sequential revenue growth and 156% annual growth to $97.0 mln. AMCC Chairman, CEO and President, Dave Rickey attributed the strength to rapid growth in the company's communications segment, specifically their OC-48 and OC-192 standard products. Also enjoying the strong numbers, MMC Networks (MMCN 105 +3 7/16) shares are tacking on a few points due to their impending acquisition by AMCC. AMCC's largets customer, Nortel (NT) actually reduced their orders from AMCC during the quarter by about 30% sequentially, which makes the strong results all the more impressive. In addition to Nortel, the companies that are driving AMCC sales higher include Alcatel, Cisco, JDS Uniphase, Juniper, Lucent, Sycamore, and Tellabs. Sparing Lucent, these companies are hitting on all cylinders and we expect their success to continue to drive strong sales at AMCC. Bookings were strong at $131.1 mln, and the OC-192 backlog stands around $45 mln. If you need further evidence of AMCC's prospects consider this -- Goldman Sachs initially had a FY01 revenue estimate of $233 mln for the entire year, they're now expecting a $417 mln revenue fiscal year for AMCC. Despite the poor performance of most of the chip makers recently, AMCC is delivering strong results and should continue to do so for the foreseeable future. - Matt Gould, Briefing.com