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

To: Jock Hutchinson who wrote (18533)	5/20/1999 7:33:00 PM
From: patrick tang	Read Replies (1) \| Respond to of 25814

Jock, thanks again for the update. Looks great for all LSI longs. Even if the market start taking a 3 month vacation like DavidG wants it to do, I'm very comfortable just sitting on the stock for the time being. Do have a few comments/questions: 1. Re: .. the problem is getting Gresham up ... Did you read that as they are having real problems or just they are putting the emphasis on ramping Gresham as fast as they can. Surprised that if they can ramp to 1k wafers/wk in 4 months, they might have problem ramping to 2k wafers/wk by X'mas. Assuming of course there are no sales problems for the next smaller um products. 2. That 50% Coreware is great, echos what Wilf said in the last cc. The Coreware should help them make the margins. 3. $2.50 forward looking for '00 x 25x PE +/_ 10% trading range means LSI sees $62 to $69 by end of year hopefully? I'll take that. Now if we just don't have any silly stuff like interest rate hikes, we'll be on our way. By the way, is Mark Edlestone with Morgan Stanley by any chance? Yahoo thread yesterday said MS raised 1 yr target to $60. 4. Great to see the fab deal with Malaysia. Now hopefully LSI can have enough capacity all the way through this upturn and not have to build more 8" capacity just before the next downturn. Instead they can just build a 12" for the next round near the end of the next downturn. Wouldn't want to be the guys holding the stock in Malaysia though. Right when they are all ramped up, foundry prices may drop on them. As I have semi-jokingly said one time, the time to sell may be when new guys in Malaysia and Tailand are all ramped up. That should put it somewhere Q1/Q2 '01. patrick

To: Jock Hutchinson who wrote (18533)	5/21/1999 10:33:00 AM
From: Tony Viola	Respond to of 25814

Jock, thanks for your very informative LSI IR confab report here. Sounds like they have someone in IR there who's quite knowledgeable and forthcoming with the information. Re Gresham, I have no feel for LSI's process and manufacturing capabilities, having knowledge of Intel and IBM only in that regard. Hope they are in the same ball park (and a small one at that, like Fenway). As chip requirements become more complex, there is less competition among different chip vendors and a desire by the purchasers to spread the business around to keep everyone happy. Current competitors include Thompson, Lucent, Texas Instruments, IBM, and to some extent NEC. LSI sees itself as distancing itself from FPGA with its ASIC and Coreware products simply due to the size requirements This is indeed very good news for LSI. Having the superior IP, design, processing and manufacturing (hopefully on the last 2) to offer the customer should be a big advantage. Re distancing itself from FPGA, I would be very pleased to see LSI do the same thing to Altera and Xilinx WRT stock price, although I have nothing against those companies. Thanks again, Tony

To: Jock Hutchinson who wrote (18533)	5/22/1999 3:23:00 PM
From: patrick tang	Read Replies (1) \| Respond to of 25814

Something just occurred to me when I re-read your summary - LSI has no tax write-offs since they did not lose money the last few years. But SEEQ should have a few M$ that they can use to shield income. This can make SEEQ worth a little more than just their IP. I wonder how much tax write-offs they have? I doubt that they have $100M, but even if it's only $40M to $50M, it's not too bad. No, probably too much to expect, my guess would be for $10M to $15M range. Anybody knows for sure? patrick

To: Jock Hutchinson who wrote (18533)	5/23/1999 3:38:00 PM
From: Andy M.	Respond to of 25814

Jock, Thanks for following up on those DVD design wins. Whatever happened to the supposed design win for Dell's Inspiron notebook? I remember the initial announcement, some postings to the effect that the deal had fallen through, but then I'm pretty sure it was mentioned in this year's annual report. Andy

To: Jock Hutchinson who wrote (18533)	6/10/1999 7:28:00 PM
From: contax	Read Replies (1) \| Respond to of 25814

Jock, You had mentioned that in your conversation with LSI's IR, you were told about an upgrade in the works from an analyst Mark Edlestone whom you described as the "current guru of the semi market." Would you or anyone else on this thread know as to the name of the company that Mark Edlestone represents and if that "upgrade" that you had alluded to, ever issued? BTW, thanx for sharing your analysis on LSI with the thread. I for one have greatly benefited from your posts. Regards, Karim