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Technology Stocks : All About Sun Microsystems

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To: larry pollock who wrote (59321)	3/9/2004 12:26:24 PM
From: larry pollock	Read Replies (1) of 64865

FROM FORBE ONLINE- Banc of America Securities downgraded Sun Microsystems (nasdaq: SUNW - news - people ) to "neutral" from "buy," cutting the 12-month target price to $5 from $6.25. Banc of America lowered projections for the company's calendar year results to a loss of 9 cents per share from a loss of 4 cents. Banc of America said it has "renewed concerns about the long-term stability of Sun's core Unix business." The research firm said it had previously assumed that Sun's core business would be stable in 2004. But given the "weak relative performance" by Sun in the current quarter, "we can no longer support the thesis that Sun can hold share in storage or Unix and gain share in the Linux market on a longer-term basis," Banc of America said. Channel checks for competitors Hewlett-Packard (nyse: HPQ - news - people ), IBM (nyse: IBM - news - people ) and Dell (nasdaq: DELL - news - people ) indicate the quarters are tracking "roughly in-line," Banc of America said. While making channel checks for Sun, however, Banc of America said "we have repeatedly heard the word 'struggling.'" Banc of America said that IBM in particular is taking business away from Sun.

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