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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 177.24-0.8%Oct 30 3:59 PM EDT

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To: foundation who wrote (26923)9/20/2002 9:54:22 AM
From: foundation   of 196356
 
Texas Instruments (TXN / NYSE)


Salomon Smith Barney


We are downgrading TXN from Outperform to In-line based on our outlook for slowing unit growth in semiconductors in coming quarters, continuing weak demand in the personal computer segment, and a seasonal peak in wireless component sales in the fourth quarter. There is no change to our Q3 EPS of $0.11 on revenues of $2.28 billion, or our Q4 outlook for flat revenues and earnings. We are cutting sharply our 2003 EPS from $0.75 on $10.1 in revenues to $0.60 on revenues of $9.6 billion. We are also cutting our 2004 EPS estimate from $1.25 to $0.95, due to lower revenue assumptions.

biz.yahoo.com

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