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Technology Stocks : All About Sun Microsystems

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To: Bald Eagle who wrote (6946)	1/16/1998 9:08:00 PM
From: Sonki	of 64865

ML oN SUN: NEW YORK, Jan 16 (Reuters) - Merrill Lynch said on Friday it had raised its near-term rating on Sun Microsystems Inc to buy from accumulate while keeping its long-term buy rating on the stock. -- Sun modestly beat Wall Street estimates in reporting fiscal second quarter earnings of $0.57 per share and offered a positive outlook, analyst Steven Milunovich said in a research note. -- Revenues rose 18 percent and orders rose 20 percent despite a currency hit, he said. European demand rebounded and weakness in the Far East appears manageable, he said. -- "Sun is one of the most profitable computer companies at a 13 percent operating margin because it controls its own chip and software technologies," Milunovich said. -- Increased fiscal 1998 earnings estimate to $2.35 per share from $2.30. -- Although Far East remains a concern, Merrill sees company averaging 20 percent revenue growth over the next 18 months, with server and storage segment driving results. -- New product flow should benefit second half results. -- Stock up 1-10/16 to 44-11/16.

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