One of the main exceptions appears to be Applied Micro Circuits (AMCC). Mr.
Lipacis told clients that AMCC will beat both his earnings and revenue
estimates of $0.14 per share and $138 million respectively. Charlie Glavin
at CS First Boston agrees. He issued a note to clients that said AMCC should
beat the consensus estimate as well.
The consensus estimate is $0.14 with thirteen of the fourteen analysts
having an official estimate in line with the consensus. The Earnings Whisper
® number is $0.15 on revenue of $140 million, including revenues from the
newly acquired MMC Networks.
AMCC's earnings will be published at www.earningswhispers.com after
the market closes on Tuesday. The company's conference call will begin at
4:30 PM ET on Tuesday and will be available at
nasdaq.com/asp/Broadcast.asp?symbol=AMCC or by calling (800) 521-5499
and using the passcode 874835. Analysts will be looking for answers to
AMCC's inventory questions and changes in buying patterns among the
company's customers. Salomon Smith Barney analyst Clark Westmont said that
AMCC is likely to give positive guidance about the coming quarter, unlike
other semiconductor stocks.
For Intel (INTC), on the other hand, it will not be good. As we reported in
early December, Intel issued a pre-announcement suggesting that revenue
growth would be flat sequentially for the quarter. At the time, the
consensus estimate was $0.42 per share. Currently, the consensus estimate is
$0.38 per share on revenue of $8.7 billion.
The good news is that most analysts expect Intel to be in line with these
numbers. David Wu at ABN AMBRO told clients recently that Intel is "not
going to miss this quarter." The bad news is that the company may be
shifting some of the demand from first quarter 2001 to meet its current
numbers. As a result, Jonathan J. Joseph at Salomon Smith Barney expects
Intel to guide next quarter's earnings down to $0.30 per share and revenue
could be well below $8 billion.
The Earnings Whisper number for the fourth quarter 2000 is $0.38 with
revenue pushing $8.8 billion. A summary of the earnings release will be
reported at www.earningswhispers.com after the market closes on
Tuesday and the conference call can be heard at
www.nasdaq.com/asp/Broadcast.asp?symbol=INTC beginning at 5:30 PM ET.
Earnings will look much rosier for many firms outside of the semiconductor
industry. Near the top of the list for Tuesday is Juniper Networks (JNPR).
The consensus estimate for Juniper is $0.17 with most analysts having an
official estimate of $0.18. Martin Pyykkonen at CIBC World Markets said
recently that Juniper's management has been executing flawlessly and Mark
Sue at Lehman Bros. told clients to expect a strong fourth quarter from the
company. The Earnings Whisper ® number is $0.19 per share, but don't be too
surprised if Juniper reports even higher results
