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Technology Stocks : Disk Drive Sector Discussion Forum
WDC 150.21+8.7%Oct 31 9:30 AM EST
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To: Robert Douglas who wrote (9240)1/19/2006 10:45:13 AM
From: Sam   of 9256
 
09:15 STX Seagate Tech: Color on quarter (23.96 ) -Update-

Deutsche Bank raises their estimates and price target for STX based on stronger unit growth, a stable pricing environment, and upside from new technologies. Firm maintains their Buy...Susquehanna is confident STX will continue to grow revenue while holding margins stable in the near term. Longer term, they believe STX can successfully integrate MXO's manufacturing capacity in the acquisition that is expected to close 2HCY06...Kaufman says that their chief concern is that STX's capital expenditure forecast is expected to increase to $950 mln-$1 bln from a prior expectation of $700 mln-$800 mln in fiscal 06. This could put some additional pressure on gross margin longer term as STX capex % of rev goes above 10%. They raise their fiscal 2006 and 2007 EPS estimates from $1.89 and $1.87 to $2.20 and $2.26, respectively, and increasing their tgt to $28 from $25...Needham says that their positive outlook for the co can best be defined by the following points: 1) industry-leading technology translating into potentially the longest areal density lead in the history of the drive industry; 2) a component cost advantage that has a greater likelihood of appearing as a gross margin benefit than lower prices; and 3) a prime beneficiary of an overall supply/demand balance that has been (and will be for at least C2006) enhanced by component constraints.
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