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Technology Stocks : Semi Equipment Analysis
SOXX 303.84+1.3%4:00 PM EST
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To: Return to Sender who wrote (3431)6/6/2002 9:38:25 AM
From: Return to Sender  Read Replies (2) of 95622
 
Merrill has done a complete turn around on INTC since May 6 when they said the following:

May 6 2002 8:35 AM In Play Positive comments on semis by Merrill Lynch : Merrill Lynch believes that the past two weeks represent the biggest decoupling of industry fundamentals and stock prices since April of 2001, and that April 2002 would have been a great time to buy semi stocks as the industry's recovery becomes increasingly apparent; based on the themes of portability, market share gain, and pricing power, firm would be buying shares of MCHP, MRVL, ADI, MXIM, and INTC.

Now today Merrill says: 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.

Typical, although they did have some more neutral comments in between. This will be a good opportunity to test the do the opposite of what the analysts say approach that many of us have voiced.

RtS
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