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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: David Einstein who wrote (2177)	1/8/1999 3:07:00 PM
From: Wizard	Read Replies (1) \| Respond to of 4710

>>Am I missing something here? Great earnings report, several strong buy reiterations, raised earning estimates and target prices, and the stock is DOWN?!!!! All this while Broadcom goes through the roof, up 10 and 20 points in a day. What gives? Its supply/demand. Broadcom has less than 11mm shares available to buy (float) while Morgan Stanley is telling everyone BRCM is the next Intel. VTSS has 73mm floating shares and Fidelity, Janus, PBHG and Nichapp already combine to own 21mm shares (as of last September). All that buying power has already been soaked up. The good earnings report was obviously already discounted in the stock price given the more stable supply/demand situation. That said, BRCM looks awfully extended here...