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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: J_W who wrote (13985)	7/30/1998 9:36:00 AM
From: FuzzFace	Read Replies (3) \| Respond to of 25814

Interesting item from RS conference report on TSC: thestreet.com SAN FRANCISCO -- The Robertson Stephens Semiconductor Conference at the decorous Ritz-Carlton Hotel is not the kind of place to play games. But game play -- of both the market and video variety -- were the talk of LSI Logic's (LSI:NYSE) presentation Wednesday. The company had some good news the day before the conference: Sony (SNE:NYSE ADR) announced that 25% of its profits came for the Sony Playstation alone. LSI makes the chips for the popular video game machine, so good news like that comes to the chagrin of many a short-seller. Tuesday the stock ticked up to 20 13/16, though it gave up some of those gains Wednesday, closing at 20 3/8. "I'm convinced that there are a handful of hedge funds with one trick up their sleeves. Their entire strategy is to short LSI on Playstation rumors," CEO Wilfred Corrigan announced to a room full of such one-trick ponies. "But I've got bad news for them. Playstation accounts for less than 10% of our revenues." To Corrigan's glee, that could mean Game Over for some shorts. ....