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Technology Stocks : Semi Equipment Analysis

SOXX 292.04

+2.4%

Dec 18 4:00 PM EST

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To: Crossy who wrote (1649)	1/15/2002 2:29:33 PM
From: Return to Sender	Read Replies (1) of 95610

From Briefing.com: 11:55AM Broadcom (BRCM) 49.78 +1.80 (+3.8%): -- Technical -- Stock looks strong on the session, holding towards its intraday high on solid volume. Faces initial resistance at 50.00 followed by subsequent overhead in the area of 51.20/51.40. We would become more cautious on the intraday outlook if BRCM were to break below first support around 49.50. 11:48AM Sector Watch: Semiconductor : The index (SOX) bounced after a fractional penetration of yesterday's low but follow through has proven difficult thus far. On an intraday basis watching support at 563 during the current pullback. Failure suggests the group may be vulnerable to a retest of the recentlows (558) and moving average support at 554.50 (200 day simple ma). Weakest performers today are RMBS (-3.1%), LLTC (-1.5%) and MU (-1.4%). 10:44AM NVIDIA Corp (NVDA) 64.00 +4.24 (+7.1%): -- Update -- Technical -- Has already cleared a few resistance points this morning on much stronger than average volume. From current levels, has little in the way of resistance until 65.00 followed by additional overhead at 66.40. To the downside, look for intraday support just over 63.00. 7:23AM NVIDIA Corp (NVDA) 59.76: A number of firms are positive on NVDA: Morgan Stanley says the co shows excellent execution and is seeing strong demand across all product lines, and should see strong growth from new products in 2003-04; raises 2002-03 ests and raises price target to $90 from $70. Prudential believes that MSFT's rumored "HomeStation" Xbox/PC/set-top convergence product is real, and should be a significant opportunity for NVDA. 7:13AM Intel (INTC) 34.84: Merrill Lynch's Joe Osha expects INTC to meet or exceed Q4 rev/EPS ests of $6.957 bln/$0.12, and believes that 2002 ests are too low. Continued transition from 0.18 micron to 0.13 micron should improve gross margins, which should improve to 50.4% for FY02. Believes it unlikely that stock will sell off in Q1, and would buy on weakness; profit target is $40. 7:09AM Linear Tech (LLTC) 40.51: Merrill Lynch's Joe Osha downgrades to near-term BUY from Strong Buy, believes that LLTC's focus on maintaining pricing during the downturn may cause it to recover more slowly than competitors such as MXIM. Lowers March qtr rev/EPS ests to $120 mln/$0.14 from $140 mln/$0.17. finance.yahoo.com Looks like the SOX is probably headed to 540 as I suspected. INTC reports tonight after the close as does RFMD and MIPS. Should be very interesting. Great discussion going on here today. I hope to read more. RtS

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