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Technology Stocks : CYRIX / NSM -- Ignore unavailable to you. Want to Upgrade?

To: Kyle who wrote (21702)	12/3/1997 1:03:00 PM
From: Jack Kunkle	Read Replies (1) \| Respond to of 33344

3Com, down 2 13/16 at 32 « National Semiconductor (NYSE), down 2 5/8 at 29 11/16 Numerous analysts downgraded 3Com after the maker of modems and networking equipment warned late Tuesday that it would only post a slight profit for its second quarter due to efforts to cut inventory. National Semiconductor, a 3Com supplier, was downgraded as well. Both companies are based in Santa Clara, Calif.

To: Kyle who wrote (21702)	12/3/1997 1:20:00 PM
From: FJB	Respond to of 33344

Kyle, NSM is trading with the sector and the analyst downgrade was just your typical "piling on". The brokerages have to make money also. If National were going to miss estimates, they would have issued a warning by now. Here are the other semis I follow to give you some perspective: quote.yahoo.com quote.yahoo.com quote.yahoo.com National is trading at 15X trailing earnings. I expect them to grow at a better than 15% clip over the next several years, so yes they are a buy. I'm initiating coverage with a long-term BUY at this level on a valuation basis. :-) Bob