UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): February 1, 2008

Applied Micro Circuits Corporation

(Exact name of registrant as specified in its charter)

DELAWARE
(State or other jurisdiction
of incorporation) 000-23193
(Commission File Number) 94-2586591
(I.R.S. Employer
Identification No.)

215 Moffett Park Drive, Sunnyvale, California 94089
(Address of principal executive offices)

(408) 542-8600
(Registrant’s telephone number, including area code)

N/A
(Former name or former address, if changed since last report)

     Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

     (e) On February 1, 2008, we entered into a one-year consulting agreement with Robert H. Bagheri who was our Senior Vice-President, Operations and Quality until January 31, 2008. Under the agreement, we will pay Mr. Bagheri a $4,000 monthly fee for a specified number of hours of consulting services each week. If Mr. Bagheri provides more than the specified number of hours of services in any week, he will be paid additional compensation at a decreasing hourly rate.

     The description of the consulting contained in this current report is qualified in its entirety by reference to the copy of the agreement filed herewith as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

     (d) Exhibits.

99.1 Severance and consulting agreement dated February 1, 2008.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Applied Micro Circuits Corporation
Date: February 7, 2008	By:	/s/ Cynthia J. Moreland
		Cynthia J. Moreland
		Vice President and General Counsel