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Technology Stocks : Western Digital (WDC)
WDC 161.05+3.5%3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (10925)6/2/2004 9:41:42 AM
From: Sam Citron  Read Replies (2) of 11057
 
8:57AM Merrill Lynch cuts estimates for disk drive stocks : Merrill Lynch cuts ests for STX, MXO, WDC, and HTCH, and says it's still too early to invest in the U.S.-based hard drive stocks. Firm cites the following factors: 1) recent T.S.R. (hard drive supplier) data, which suggests downside to their prior ests; 2) distributor checks, which suggest that shipments would be down sequentially in CQ2; 3) their belief that key supplier HTCH has not reached an inflection point in its suspension assembly biz; 4) their Taiwan team's ests that PC motherboard shipments will be down 11% sequentially in CQ2; and 5) slowing growth in Europe due to a declining euro and weakness in continental Europe.
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