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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: Ibexx who wrote (2857)	1/27/1998 12:42:00 PM
From: REH	Read Replies (1) \| Respond to of 93625

OK Looking forward to your update later - I'm buying! What's yr view 6mnts-12mnts?

To: Ibexx who wrote (2857)	1/27/1998 8:37:00 PM
From: Geary Kwong	Respond to of 93625

To follow the trend of stocks that supply high flyers seem to fly themselves. Here is another... AMCC. They provide chips for leading plumbing companies like Cisco, 3com etc; Their forte is the fiber optic links, they recently had an ipo in December, and with that money they are expanding their manufacturing capacity. Timing chips (sychronous transmissions) extremely important to high band width backbones. Worth checking out. Geary

To: Ibexx who wrote (2857)	1/27/1998 8:42:00 PM
From: Ibexx	Respond to of 93625

Thread, The following are from a H&Q research update dated 1/27/98. Please read at your own risk and remember: these are the opinions of Rob Chaplinsky/H&Q, not mine. _______________ On January 26, 1998 the trade publication, Electronic Engineering Times, published an article on the internet entitled, "Intel Reconsiders Rambus Transition" <http://techweb.cmp.com/eet/823/hr.html/> stating that Intel is developing a memory interface specification for its un-announced, next generation core logic chipset that will support both Rambus-Direct and synchronous DRAMs. Initially, we believe Intel intended to transition the PC industry directly from SDRAM to Rambus-Direct DRAMs once Intel's core logic chipset became available (mid'98). In this strategy, RDRAM would probably be restricted to the much smaller, high end of the market due to the limited availability of a next generation microprocessor, Direct RDRAM and accompanying chipset. However, we now believe Intel is taking on a much smoother transition strategy at the request of PC OEMs and its memory partners. We now believe Intel intends to introduce a ransition chipset, which will support both SDRAM and RDRAM memory standards targeted at its core 32 bit mainstream processors. We believe Intel in adopting a much more conservative approach to transitioning the market to Direct-Rambus memory as opposed to using its market leadership to enforce this new standard. We believe this new chipset strategy is a positive for Rambus because: (continue on next post) ______ Ibexx

To: Ibexx who wrote (2857)	1/27/1998 8:55:00 PM
From: Ibexx	Read Replies (1) \| Respond to of 93625

(Continued from previous post; H&Q update 1/27/98) We believe this new chipset strategy is a positive for Rambus because: 1. Intel's potential offering of a chipset that supports multiple memory standards will allow Rambus to penetrate the higher volume, low-end PC segment earlier in its product life cycle rather than be restricted to the lower volume, high end of the market. We believe DRAM leaders such as LG Semiconductor will try to gain market share in the PC segment by aggressively pricing RDRAM at the low end of the market. LG has publicly stated that it plans to be aggressive on Direct-RDRAMby only charing a slight 5% premium over its SDRAM product offerings. 2 An intentionally smooth transition confirms Intel's long-term commitment to Rambus. Intel is taking on a leadership role by assisting the industry transition to Direct-RDRAMs for both its 32-bit CPU architecture family as well as its next generation 64-bit CPU family. We believe the key motivation for Intel's slight alteration to its Rambus chipset strategy is that it will smooth the DRAM and PC industry transition from the SDRAM to the higher performance Rambus-RDRAM. We do not believe Intel's motivation for this new transition chipset is related to technical hurdles but believe that it is a marketing decision which wll prove more favorable for Rambus in the long run. With the new Intel chipset interface specification, Rambus is expected to have a wider market penetration earlier in the product cycle (1998). However, we believe Rambus DIrect DRAM and SDRAM will co-exist for a few more years than we originally expected and therefore may change the royalty revenue profile for Rambus in the early years of its product ramp. In the long run, we continue to expect Rambus technology to have at least a 40% market share of the PC DRAM market in the year 2001. ______ Ibexx PS: No change in BUY rating and previously stated price target.