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To: DJBEINO who wrote (8800)	10/20/2000 8:48:42 AM
From: DJBEINO	Respond to of 9582

J.P. Morgan Initiates Coverage of Communications Semiconductors Industry SAN FRANCISCO--(BUSINESS WIRE)--Oct. 20, 2000--J.P. Morgan Securities Inc. Communications Components equity research analyst, Charles Willhoit, today initiated coverage of the Communications Semiconductors industry. He also initiated coverage of the following stocks: Applied Micro Circuits Corporation (Nasdaq:AMCC - news) with a ``Buy'' rating and a 12-month target price of $265. PMC-Sierra, Inc. (Nasdaq:PMCS - news) with a ``Buy'' rating and a 12-month target price of $270. Vitesse Semiconductor (Nasdaq:VTSS - news) with a ``Buy'' rating and a 12-month target price of $115. ``While Wall Street and the communications world are going gaga for optics, there would be no light without electronics,'' says Willhoit. ``Communications semiconductors are the brains and batteries of optical networks.'' In his report titled ``Communications Semiconductors: Chips with Salsa,'' Willhoit writes that the winners in this sector are likely to be those vendors that offer a broad range of chips to a broad range of customers and applications. Integrating more functionality into a single chip and working more closely with players in the optical world are also longer-term recipes for success. J.P. Morgan is a global financial firm with a growing technology, media, and telecom investment banking and equities practice. The firm has over 300 professionals worldwide dedicated to this business, and in the United States, has teams in San Francisco, Silicon Valley, New York, and Los Angeles. biz.yahoo.com