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

To: Drake who wrote (2425)	3/26/1999 4:25:00 PM
From: Billy Joe	Read Replies (1) \| Respond to of 3818

"Project A" from IgT from 10-K rpt? Does anyone know anything/have thoughts about this "ATM switching system" development project noted in PMCSs latest report?

To: Drake who wrote (2425)	3/26/1999 4:27:00 PM
From: Trader Dave	Read Replies (1) \| Respond to of 3818

In BD's most honorable and absolutely correct opinion it is the cheapest stock on earth. In TD's much more unsure opinion it is undervalued if it does nothing but go higher from here and overvalued if it is going to go lower. In my real opinion, PMCS may be overvalued in the short run if we get a tech wreck or the market causes trouble. I think pmcs' business prospects remain extremely bright. If they can execute this well for a lengthy period (12 months to 24 months) the stock probably is a great buy in here. But great companies like cisco in complicated businesses have always had tons of volatility. If you bought cisco at the yearly high price in equal amounts over the last 5 years I'd still bet you'd be a pretty happy camper. So, bottom line? I have no idea in the short term and my long term confidence is high. I'm glad we own the stock, but it's by no means cheap enough to back up the truck and load up. TD