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Technology Stocks : Semi Equipment Analysis

SOXX 331.90

-0.4%

Jan 14 4:00 PM EST

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To: Gottfried who wrote (8280)	1/29/2003 9:36:38 AM
From: Return to Sender	Read Replies (2) of 95720

From Briefing.com: 8:53AM Bear reading ticks lower : We're hearing from trading floors that the weekly Investor's Intelligence survey reveals bulls holding at 50% for a third straight week, with bears falling to 26.1% from 28.3% last week, more than reversing the prior week's uptick. We have not seen the report and cannot confirm the numbers. If this is true then it conflicts with the Hulbert readings. It would also be very bad for the market. Also from Briefing.com: 8:52AM Micron estimates revised at Deutsche (MU) 7.94: -- Update -- Deutsche Securities cuts their FY03 est to ($2.25) from ($1.53), vs consensus of ($1.34), due to their lower DRAM avg selling price forecast; firm also raises their FY04 est to ($1.05) from ($1.22) due to lower revs and lower costs; on the basis of these revisions, firm believes MU's cash balance will reach critically low levels by fiscal Q4, implying the need for capital raising in the next 1-2 quarters (note that MU announced this morning a $500 mln convertible offering). However, firm believes that est cuts could be a catalyst for mkt expectations reaching a trough, and says their bias on their Hold rating is becoming more positive. Target is $13. 8:41AM Micron announces $500 mln convertible notes offering (MU) 7.94: 8:03AM Celestica cut to Underperform at Bear Stearns; target $10 (CLS) 14.74: Bear Stearns downgrades to Underperform from Peer Perform after the co missed consensus last night; firm also cites gross margin declines, concerns over server mix and share shifts, and valuation. finance.yahoo.com^SOXX+ALTR+AMAT+AMD+BRCM+CLS+INTC+KLAC+LLTC+LSCC+LSI+MOT+MU+MXIM+NSM+NVLS+TER+TXN+XLNX+^IXIC+^NDX+^VIX+^VXN+^STI.N+SMH&d=t I guess we will have to wait and see. finance.yahoo.com RtS

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