SoundView cuts ests on MSFT, Dell, Intel (INTC, MSFT, DELL) By Tomi Kilgore
Analyst Mark Specker at SoundView Technology cut his PC unit demand forecast for the quarter ending June by 1 million units to about 29 million units, flat with the sequential first quarter. This follows proprietary research in Taiwan conducted by the firms John Lau, which concluded that demand for motherboards in continue to weaken. Subsequently, Specker cut his fiscal third-quarter revenue estimate for Microsoft (MSFT) by $293 million and his earnings estimate by a penny a share. He also cut his revenue estimate for Dell Computer's (DELL) fiscal second quarter by $230 million and his EPS estimate by a penny. Microsoft is easing a nickel to $59.03 and Dell is shedding 62 cents to $25.57. In addition, SoundView's Scott Randall trimmed his second-quarter EPS estimate for Intel (INTC) by 1 cent, citing the outlook for motherboard demand. The stock is down 71 cents at $30.06. Randall said he continues to believe Intel would be "more attractive" in the mid-$20s. Separately, SoundView's Shawn Milne cut his first-half 2002 sell-through estimates for XBox, Microsoft's new gaming platform, to 4.35 million units from 4.6 million units due to the subdued launches in Japan and Europe. |
