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Technology Stocks : Alliance Semiconductor

ALSC 0.810

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Jul 10 5:00 PM EST

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To: Lutz Moeller who wrote (6637)	12/16/1999 8:47:00 PM
From: John Miz	Read Replies (2) of 9582

Semiconductor stocks, which posted solid gains on Wednesday after sliding a bit earlier in the week, repeated that performance, aided in part by a bullish report issued by Morgan Stanley Dean Witter, which raised its earnings-per-share estimates on nine companies. In the report, analyst Mark Edelstone said that the chip industry currently is "in the sweet spot” of a cyclical expansion period and he expects revenue growth of 25 to 30 percent in 2000 and 20 to 25 percent in 2001. "Given the current fundamental environment, we expect revenues to accelerate, margins to expand, and numerous positive earnings surprises to be reported in 2000 and 2001,” the report said.

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