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To: mishedlo who wrote (8678)	1/9/2001 10:44:54 AM
From: DaYooper	Read Replies (1) \| Respond to of 13572

Hi Mike, The action yesterday and today in QCOM is certainly puzzling to me. Yesterday up on Korea developments regarding their last 3G license and today down in sympathy with NOK announcements regarding handset sales. (although NOK's numbers on sales of GSM phones are irrelevant to QCOM) Now a couple questions for you. What further news or developments do you expect that will drive the markets lower over the next month or so? Any prediction on when the macro trend will turn back positive or never? <g> I'm feeling pretty good about Monday's reinforcement of the 2290s level on the Naz and the non-euphoric buying today. You think that's misplaced optimism I assume? Best, Rory

To: mishedlo who wrote (8678)	1/9/2001 10:49:40 AM
From: Perry Ganz	Respond to of 13572

Their you go again, talking down my companies, first GE now AMCC For misdello only, I have found max pain to be 100000000000% acurate after all, all that has to happen to make it true is that a den of thieves or option traders have to agree to trust each other. So the smart thing for you to do is get every dime you can get your grubby little hands on and short the at the money calls their even pumpin it up for ya After the bell: SSB on AMCC January 8, 2001 Clark Westmont AMCC has the strongest momentum of any company in our coverage universe, and we believe business has remained on course to exceed management's original guidance of at least 20% sequential sales growth. The 20% hurdle excludes the additional revenue gained through the merger with MMC Networks that closed at the end of October (accounted for as a purchase). Including the MMC sales contribution, sales should grow roughly 40% sequentially. As such, the company will likely upside our estimate and First Call consensus EPS of $0.14. Bookings have remained very robust, and we expect the company will guide to another strong double-digit sequential sales growth performance in the March quarter. AMCC is currently riding the ramp of two of the strongest product cycles we have seen in the communications IC universe, namely OC-192 PHYs/PMDs plus framers for both OC-48 and OC-192. The OC-192 chips are in the third quarter of a 20-24 quarter product life cycle, while the framer chips are in the fifth quarter of a similar life span. Together, these chip segments represented roughly 25% of sales in September, roughly doubling sequentially. A similar performance is likely in December. Since these chips are so early in their product life cycles, there are two positive consequences relative to the current market environment. First, they are currently on the steepest part of their respective growth curves. Second, the relative youth of the devices means they are less prone to inventory accumulation by customers. Another positive for AMCC in 2001 is the company's jump-start in the network processor market through the MMC Networks merger. While MMC Networks will account for more than 20% of AMCC's overall, we expect that the deeper benefits from the merger will emerge as product roadmaps are dovetailed and marketing leverage begins to gain traction. DONT FIGHT THE FED Perry