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Technology Stocks : Broadcom (BRCM)

BRCM 54.67

0.0%

Feb 9 4:00 PM EST

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To: Bruce Brown who wrote (5851)	4/16/2001 12:20:07 PM
From: Stoctrash	Read Replies (2) of 6531

The calls by Edelstone, the top-ranked semiconductor analyst last year in Institutional Investor magazine's annual survey, comes after Salomon Smith Barney Inc. analyst Jonathan Joseph last week raised his rating on chip shares, saying business was so bad that it was unlikely to get worse. Edelstone cut his 2001 earnings per share estimate on Intel to 45 cents from 60 cents and his 2002 forecast to 60 cents from 80 cents. Intel will ``become more aggressive'' in cutting prices on its Pentium 4 chip to spur demand for personal computers, Edelstone wrote. That will cut Intel's gross margin, he said. The analyst also lowered his estimate for Xilinx's 2001 earnings to $1.14 from $1.15, 2002 estimates to 80 cents from $1.10, and 2003 estimates to $1.10 from $1.55. He lowered his target price on the stock to $60 from $70 and his rating from ``strong buy'' to ``outperform.'' For Broadcom, he lowered his 2001 earnings estimate to 10 cents from 55 cents, and his 2002 estimate to 60 cents from $1.40. He slashed his target price to $60 from $130 and his rating to ``outperform'' from ``strong buy.'' LOWERED?? he chopped them a new zip code!! quote.bloomberg.com

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