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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: Drake who wrote (2336)	2/22/1999 2:18:00 PM
From: JZGalt	Respond to of 3818

OT - LEVL. One of the cheaper chip stocks left. Solid company with good (not fantastic) growth prospects. Numbers in the 35-40% area are possible which would lend one to believe that in the low $30's the stock is a buy for a move into the $40's. PMCS has better prospects, but it is already in the stock. Just an opinion.

To: Drake who wrote (2336)	2/22/1999 4:29:00 PM
From: Trader Dave	Read Replies (3) \| Respond to of 3818

Drake: Afraid of level I? I wouldn't lose any sleep. There's a reason level I is cheaper. It's merchant semi focus is in the much more volatile lan infrastructure/ethernet space. It's an uglier business with much shorter product cycles (6 months to 24 months versus the much LONGER PMCS product cycles.) I mean the product cycles of the end product. Since PMCS' chips are designed into WAN products, the design wins last for a long time and the WAN product business is less at risk to any y2k related slowdowns. Regarding a possible INTC investment -- it is levl's LAN orientation that makes it the most likely candidate for an INTC investment. As I have mentioned on the VTSS thread, you MUST evaluate the merchant semiconductor companies by looking at the END DEMAND for the products that their chips are designed into. That is why PMCS and LEVL are much less competitive than a cursory glance would indicate. TD