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

To: patrick tang who wrote (15743)	10/18/1998 3:59:00 PM
From: shane forbes	Read Replies (1) \| Respond to of 25814

Patrick: Entertaining it certainly has been! Just from memory: Chronology of an ExcuseMe Stock: Feb 1996 - LSI (poster boy of the chip industry until then) falters saying that there is an inventory correction. Gresham in mid to late 1996(?) pushed out to early 1997 (?) June-July 1996 - sinks to 17 for a few days when all chip stocks tank Oct. 1996 - Wilf DCAM wins etc says LSI is seeing the end of inventory corrections etc - LSI is back somewhat. Feb. 1997 - Wilf pretty bullish now - LSI is back. Gresham to early 1998 (?) July 1997 - Montgomery Toshiba might get Sony - LSI drops to 33? Had hit 46 for awhile there. Oct 1997 - Wilf gives earnings warning for Q4 - Gresham pushed out again. Shane sells <g> Dec. 1997 - $19 level holds and Shane loses yet another stock picking contest <g> Jan 1998 - LSI seeing business coming back strong and things picking up in all lines. While around them the industry is tanking. Mar. 1998 - INTC drops a bombshell about weakness Apr. 1998 - LSI hitting above 85% and some saying 90% fab utilization. Rest of industry is in the pits. LSI in 1996 was picked to weather the storm better than its brethren because of better product lines - this was chance number 2 - could it happen? Gresham to beigin mid-year 1998. May/June(earlier ?) 1998 - Symbios buy. "Experts" confused about storage attractiveness (dweebs <g>). May 1998 (?) - Kurlak likes the new paradigm comm. chip stocks - LSI only big one mentioned among other smaller comm. plays (TXN is a tad different!) July 1998 - some weaknesses and chip industry still in toilet. Earnings warning from LSI for Q3 in effect. Weak cap spending everywhere semi-equip BTB plunging on its way to historic lows. Kurlak downgrades (?). Gresham pushed out - now slated to begin around September 1998. August 1998 - LSI drops a bombshell - earnings warning - business vanished across all lines - so much for chance number 2. Gresham pushed out to December 1998. Sep 1998 - Rest of chip industry coming back. LSI mum - stock price going lower or not moving while others have been recovering. Wilf quoted as saying 1999-2001 will be great for the chip industry. Oct. 1998 - Schrew the old stuff. LSI is restructuring. The right thing to do IMHO - enough of $300 million quarters. Wilf tossing out old fabs and writes down assets but says new product lines and ASSPs coming and storage will be sound (count on it!). Storage means one less INTC area - a good thing. Downgrades expected - should be all holds pretty much soon. Kurlak does not ask question at c.call <g>. Gresham NOT pushed out. Shane.