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Hot, hot, hot. That's how financial analysts are characterizing one San Diego technology company.
After nearly 20 years of working in the shadows of San Diego's tech community, Applied Micro Circuits Corp. (AMCC) has emerged. And, boy, is it going large.
Wall Street is definitely noticing. AMCC's stock has tripled since the firm issued its initial public offering in November. The stock closed at $24 midweek last week.
It is also one of 15 California-based stocks to achieve the biggest price gains year-to-date with a 91.9 percent gain, according to the Wall Street Journal.
AMCC, which designs, develops, manufactures and markets high-performance, high-bandwidth silicon solutions for the world's communications infrastructure, also reported record revenues for the third quarter of fiscal year 1998, tallying $19.7 million. That's up 36 percent from the third quarter in fiscal 1997. AMCC's fame and fortune is being driven by the heightened demand for bandwidth, the data-carrying capacity of a phone line.
Wait, there's more.
"There are at least three. different market...