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Strategies & Market Trends : Trend Setters and Range Riders

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To: Susan G who wrote (5560)	6/1/2001 12:29:26 PM
From: Frederick Langford	of 5732

BRCM Check out insider sales for May. biz.yahoo.com Looks like insiders agree with Morgan Stanley and SG Cowan's negative comments. RESEARCH ALERT-Morgan Stanley cuts Broadcom NEW YORK, May 30 (Reuters) - Investment bank Morgan Stanley on Wednesday said it cut its revenue and earnings estimates for high-speed communications semiconductor maker Broadcom Corp. (NasdaqNM:BRCM - news), citing slower demand in the marketplace. Morgan Stanley analyst Mark Edelstone cut his 2001 per share estimate for Broadcom to a loss of 25 cents from a profit of 5 cents, citing challenging near-term conditions for the company that he expects will cause a second quarter sequential revenue decline of 32 percent. Edelstone also cut his 2002 earnings per share estimate for Broadcom to 25 cents from 60 cents. Morgan Stanley maintains an outperform rating on Broadcom. ``We are looking for a turn in the company's core businesses to occur in the third quarter,'' said Edelstone, who added that he believes Broadcom's product design will better position the company to take advantage of the the upturn in the economy foreseen by Morgan Stanley. SG Cowen on MOT and BRCM : In intraday Tech Radar comment, SG Cowen reveals that recent channel checks suggest that Motorola (MOT 14.97 +0.87) has significantly reduced component order rates for cableend equipment. Views reduced component orders from MOT as a negative for Broadcom (BRCM 34.84 +1.75), which derives approx. 20%-25% of its revenues from MOT. Fred

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