IBM Message Board - Msg: 16098563

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Technology Stocks : IBM

IBM 298.93

+3.1%

Feb 6 9:30 AM EST

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To: art slott who wrote (7228)	7/19/2001 9:18:21 AM
From: Arrow Hd.	Read Replies (3) of 8220

Hi Art, as far as analysts being surprised, it is hard for me to tell exactly how surprised or not they are based upon the few questions that were asked and only listening to their tone, etc. So it is only one person's observation. Maybe instead of surprise it was more a measured concern over what may happen over the next two quarters. That said, I expect they will defend their ratings and any lowering of estimates will be done quietly to get the consensus in line with the company's expectations. This happened this quarter. I know I saw a consensus of 1.16 a few weeks ago and now it is 1.15 which is exactly where they came in. I know for a fact that certain analysts don't like to play the constant currency game. Anyway, considering the environment we are in the report is a relief to the tech sector and the CC was realistic. Services is very strong and it is an annuity business and this is comforting to the Street. IBM is also beating competition so there is a lot to be happy about. Just need to get through the next couple of quarters.

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