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Technology Stocks : Semi Equipment Analysis

SOXX 303.84

+1.3%

Dec 22 4:00 PM EST

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To: nsumir81 who wrote (3430)	6/6/2002 8:48:07 AM
From: Return to Sender	Read Replies (1) of 95622

INTC and other Semi's Downgraded - From Briefing.com: 7:50AM Photon Dynamics upgraded at Lehman (PHTN) 35.10: Lehman upgrades to BUY from Mkt Perform and raises price target to $52 from $50 based on valuation and greater confidence on 5G expansion (particularly South Korea and Taiwan); expects solid momentum in PHTN's fundamentals in the next 4-6 qtrs fueled by move to 5G; raises FY03 est to $1.40 from $1.30 (above consensus). 7:16AM Nokia estimates cut by Bear Stearns (NOK) 13.64: Bear Stearns cuts 2002 EPS estimate to $0.70 from $0.75 (Multex consensus $0.73); 2003 to $0.75 from $0.83 (consensus $0.81) and cuts target to $18 from $25; sees weakness in both handsets and infrastructure in Q2, and believes NOK will have difficulty increasing market share in handsets due to competitive products, and will see continued pricing pressure in infrastructure market. 6:59AM Merrill Lynch downgrades semis : In addition to the Intel downgrade noted in the 6:47 comment, Merrill downgraded Texas Instruments (TXN), Linear Tech (LLTC), Semtech (SMTC), and Triquint (TQNT) to near-term NEUTRAL; downgraded Analog Devices (ADI) and Maxim Integrated (MXIM) to near-term BUY; cites valuations and deteriorating risk-reward. 6:47AM Intel downgraded by Merrill Lynch (INTC) 28.18: Merrill Lynch downgrades to near-term NEUTRAL from Strong Buy; believes company will have to be conservative in its mid-qtr update this afternoon, and that the prospects for sequential growth in the Jun qtr are quickly fading; believes 2003 capex will be flat but doesn't expect comments on that in today's call; stock down 1.07 at 27.11 pre-market. finance.yahoo.com^SOXX+^IXIC+^VIX&d=t RtS

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