What did we learn from TI's purchase of Burr-Brown and, earlier, of Unitrode-or of Fairchild's acquisition of Samsung's power components unit, On Semiconductor's acquisition of Cherry Semiconductor or Microchip Technology's play for Telcom Semiconductor? If this acquisitive fever is based on inflated stock prices, we won't see too much of it in 2001. But the interest is there. Analog components-especially power-management and data-acquisition ICs-remain a good business opportunity.

Microchip, for example, picked up Telcom with the idea of adding signal-conditioning and data-conversion components to its burgeoning embedded-processor business. Instead, it has been enjoying rising opportunities for standalone analog components.

What may pave the way for increased consumption of analog components is continuing investments in infrastructure. Even if the sale of new cellular handsets flags in 2001, new-generation cellular basestations will continue to come to market. And these are outstanding consumers of RF transmitter components, high-speed (65-MHz) data converters, DSP channel processors and power-management devices.

Though handsets may not be the biggest driver for power management in 2001, this business will not go away entirely. It will in fact be bolstered by higher-amperage parts supporting basestation canisters and switching-center servers. Thus, while the acquisition fever may have temporarily cooled, the trade in analog components will not tumble.

Beyond that, my crystal ball fogs over. Of course, my batting average is suspect in the best of times. No one will let me forget a projection I made 17 years ago, when PC architectures and operating systems were still contested. I was asked to speculate on whose OS would dominate on future PCs, Microsoft's or Digital Research's. My answer: Digital Research.