Post by
slushfund on Jul 19, 2004 8:57am
from Canaccord's am. cofffee
PMC-Sierra (PMCS : NASDAQ : US$10.46)
Net Change: -1.29, % Change: -10.98%, Volume: 18,688,700
The phone companies or cable companies? Pick you poison. This maker of
chips for telecom equipment was off after forecasting sales this quarter
that may miss analysts' estimates. While management talked up a telecom
market recovery and increasing broadband build-up, all investors could hear
was that third-quarter revenue could fall short of forecasts. Not even an
upgrade from Wedbush Morgan, to a BUY from Hold, could help this high- expectation stock, which has yet to perform. Investors remain concerned
with PMC-Sierra's focus on broadband digital-subscriber lines (DSL), which
are more popular internationally, but trail cable-modems in North America
in term of subscribers.
Is this a dead board?