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Technology Stocks : All About Sun Microsystems
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To: JDN who wrote (28573)3/6/2000 9:47:00 AM
From: Lynn  Read Replies (1) of 64865
 
In case this has not been posted already [I've been away], ML released a midquarter update on SUNW titled, "Infrastructure Has Been Very Good to Us," on March 2nd [short version] and March 3rd [entended version]. ML retains a BUY/BUY rating with a 12 month price target of $118. Here is a summary from the report:

Investment Highlights:

 Our thesis is that Sun will do well over the
next two years then potentially face problems
from the disruptive technologies of NT and
Linux.
 Our price objective of $118 is 103X our F2001
EPS estimate of $1.15.

Fundamental Highlights:

 Demand in the F3Q remains very strong;
there may be upside to our revenue growth of
26% and $0.22 per share. Linearity is almost
as good as F2Q.
 Once again, the backlog may not decline due
to strong demand. Infrastructure (ISPs,
ASPs, and carriers) is driving growth.
 Storage is relatively soft in only growing at the
corporate rate.
 We think Sun won?t introduce UltraSPARC
III servers until late-summer or early-fall
because of strong demand for current systems.
That buys Sun time to test systems given its

Regards,

Lynn, have a kazoo, will travel
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