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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (8971)	10/31/2000 12:36:52 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 10921

Predicting The Unpredictable Semiconductor Cycle "Soft" period predicted for next twelve months. Recent events reinforce quantitative forecasts, issued more than one year ago, that the Semiconductor Industry would enter a "soft" period in the second half of 2000 and beginning of 2001. Since early 1999, and against the industry's sentiment, Advanced Forecasting, Inc. (AFI), a Cupertino, California-based forecasting firm for the semiconductor and related industries, has predicted that demand for semiconductors would encounter a slower growth rate during the second half of 2000. Contrary to most other forecasters who fell into the common trap of extrapolating the strong IC growth (that began in mid 1998) into the future, as far as 2003, AFI has been alerting its readers of such extrapolations and the danger of building excessive capacity to match the inflated demand. Taken directly from AFI's monthly publication dated March 10th '99: "The (IC) Cycle Forecast indicates the early signs of a plateau forming in Q3-2000. Until then, our forecast expects the IC Industry to climb steeply," and from AFI's May 10th '99 publication: "Our long term forecast indicates a change in direction for the second half of 2000, from a strong to a moderate growth rate." semiconductorfabtech.com FWIW, this is more of an advertisement for AFI's services. Jim

To: Ian@SI who wrote (8971)	11/16/2000 2:02:56 PM
From: Mel Spivak	Read Replies (1) \| Respond to of 10921

IDTI 44 target 125 cnetinvestor.com * Integrated Device Technology (IDTI) $44.94 - $5B mkt cap: Positive Mid-Quarter Update; Reiterate Strong Buy & $125 Price Target · Yesterday, the company held its mid-quarter update and reaffirmed its 3Q:01 guidance of $0.86 and also reassured investors that the company is seeing no changes in order patterns from any of its large customers, including Cisco, and that it continues to operate "business as usual." · Based on the normal turns rate the company is expecting for the quarter, it continues to expect record revenues (we are at 7.2% q/q growth) as well as gross margins to be greater than 60% (we are at 61.5%). The company highlighted that they are currently generating free cash flow at a rate of $1M a day, which is unprecedented for a company its size! · The company echoed Cisco's positive outlook (from its recent conference call) and continues to see strong growth opportunities in its core business areas of IP routing, basestations, broadband, 3G wireless, and other networking infrastructure related areas. · The company is expecting tremendous growth from its new products (such as TSI switches, IP co-processors, clock management devices, FIFOs, dual-port memories, etc.) as IDT has already obtained substantial design wins from the likes of Cisco, Nortel, and Lucent and is projecting a greater than $300M contribution to next year's top line number. · On the commodity SRAM front, the company mentioned that they continue to get expedites from their customers indicating to us that demand is pretty healthy while supply is not catching up such that ASPs are holding firm. · The stock at current price levels is extremely cheap. Currently trading at 12.5x our calendar year 2001 EPS estimate, IDT represents a compelling value, as we believe the company continues to maintain its footprint in the right communications end market segments. We are reiterating our STRONG BUY rating and our $125 price target. · We would be aggressive buyers of the stock at current price levels.