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

To: MGV who wrote (2491)	4/23/1999 11:51:00 AM
From: Trader Dave	Read Replies (1) \| Respond to of 3818

CSCO and PMCS aren't that far apart. PMCS is a top provider to csco. To value merchant semiconductor companies I look at where the chips are designed in to to evaluate the growth prospects of the company. To me, PMCS is a hybrid of csco and intel. It's like cisco in that the end market is bandwidth and like intc in that it is a component supplier. Yes, I know there are several communications chip suppliers, but PMCS does have a dominating position in several of its end markets. My stuff is taxable so i'm always reluctant to sell a core holding like pmcs. however, we have written a slug of covered calls in anticipation of a potential summer correction. TD