Jabil Circuit (JBL) Message Board

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Technology Stocks : Jabil Circuit (JBL)

JBL 218.16

+4.3%

3:59 PM EST

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To: Asymmetric who wrote (6156)	1/13/2003 10:54:57 AM
From: Asymmetric	Read Replies (1) of 6317

EMS Viewpoints from Bear Stearns & Deutsche Bank Bear Stearns (Elect. Mfg. Services) Expect December results in-line or slightly better than consensus. There have been no negative preannouncements. In fact, BHE, SLR, and JBL reported better than expected November/December results. March: Focus on inventories. Although Dec. consumer electronics sell-through was mixed, we believe it is not weak enough to cause inventory overhang for OEM customers. Deutsche Banc Alex Brown (Electronics Manufacturing Services) We are downgrading this this industry based on overcapacity and end market erosion to persist in 2003. We are downgrading JBL, PLXS, SANM, and SLR to Sell from Hold, FLEX and CLS to Hold from Buy. We beleive from our extensive industry study that it will decline from 68-69% in 2002 to 54-65% in 2003. We believe that market demand across the telecom, enterprise, and consumer end markets remains quite weak. We believe the group could experience a major correction over the next 3-6 months as a result of downward EPS revisions and we foresee a more attractive entry point by mid-year.

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