Stock Traders Press

A Corporate Communications Corp. Publication ---- All Rights Reserved

JANUARY 24, 2003



RF Micro Devices (RFMD)

We originally recommended RFMD on 1/7/03. The stock today has moved down to $6.08, primarily with the general decline of the market. The fundamentals on this stock continue to be attractive. We believe the stock will move higher toward our $13 target price. We believe clients should add to their positions at this time. Achieving our target price from current levels would represent a 113% gain on the stock.

On 1/21/03 RF Micro Devices reported its financial results for the quarter ended 12/31/02. The company reported earnings of $0.08 per share (before one-time charges), which exceeded the consensus estimate of $0.05. The company also reported that revenue rose 45% to $145.8 million, up from $100.6 million last year.

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