8-K

                       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): September 17, 2001




                       APPLIED MICRO CIRCUITS CORPORATION
               (Exact Name of Registrant as Specified in Charter)



                                    Delaware
                 (State or Other Jurisdiction of Incorporation)

      000-23193                                           94-2586591
(Commission File Number)                       (IRS Employer Identification No.)



                               6290 Sequence Drive
                           San Diego, California 92121
              (Address of Principal Executive Offices and Zip Code)


       Registrant's telephone number, including area code: (858) 450-9333







Item 5.  Other Events.

         On September 17, 2001, Applied Micro Circuits Corporation ("AMCC")
issued a press release announcing a stock repurchase program of up to $200
million over the next 12 months (the "Stock Repurchase Program"). AMCC hereby
incorporates by reference the contents of the press release announcing the Stock
Repurchase Program filed as Exhibit 99.1 to this report.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (c)   Exhibits.

               99.1  Press Release dated September 17, 2001, announcing the
                     Stock Repurchase Program.


                                   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:  September 17, 2001        By: /s/ William E. Bendush
                                     -------------------------------------------
                                     William E. Bendush
                                     Senior Vice President, Finance and
                                     Administration, and Chief Financial Officer



                                INDEX TO EXHIBITS

     99.1  Press Release dated September 17, 2001, announcing the Stock
           Repurchase Program.

EX-99.1

                                                                    EXHIBIT 99.1

                  APPLIED MICRO CIRCUITS CORPORATION ANNOUNCES
                      $200 MILLION STOCK REPURCHASE PROGRAM

SAN DIEGO, Calif--September 17, 2001--Applied Micro Circuits Corporation
[NASDAQ: AMCC] today announced that its board of directors has authorized a
stock repurchase program of up to $200 million over the next 12 months. Shares
will be repurchased in the open market, through block purchases or otherwise, at
times and prices considered appropriate by the company. The program is effective
immediately.

"This repurchase program reflects the confidence our Board of Directors and
management have in our country, our industry and AMCC," said Dave Rickey,
Chairman of the Board and Chief Executive Officer. "Our strong balance sheet
allows us to implement this program, which we believe is in the best interests
of our shareholders."

The timing of purchases and the exact number of shares to be purchased will
depend on market conditions. As of September 17, 2001, AMCC has approximately
302 million shares of common stock outstanding.

AMCC Overview

AMCC designs, develops, manufactures and markets high-performance,
high-bandwidth silicon solutions for the world's optical networks. AMCC utilizes
a combination of high-frequency analog, mixed-signal and digital design
expertise coupled with system-level knowledge and multiple silicon process
technologies to offer integrated circuit products that enable the transport of
voice and data over fiber optic networks. The company's system solution
portfolio includes PMD, PHY, framer/mapper, network processor, traffic
management and switch fabric devices that address the high-performance needs of
the evolving intelligent optical network. AMCC's corporate headquarters and
wafer fabrication facilities are located in San Diego. Sales and engineering
offices are located throughout the world. For further information regarding
AMCC, please visit our web site at http://www.amcc.com or call our shareholder
information line at (888) 982-AMCC (2622).

This news release contains forward-looking statements, including statements
regarding the stock repurchase program, that are subject to certain risks and
uncertainties, including, but not limited to, those associated with
unpredictability and volatility of the price of the Company's common stock and
the securities of other companies in the Company's industry, the performance of
and conditions in the United States and world financial markets, the policies
and actions of the United States and other governments, and the general
political, economic and business conditions in the United States and elsewhere,
as well as the "Risk Factors" set forth in the Company's Annual Report on Form
10-K for the year ended March 31, 2001, and the Company's other filings with the
Securities and Exchange Commission. Actual results could differ materially, as a
result of such factors, from those set forth in the forward-looking statements.