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Technology Stocks : All About Sun Microsystems
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To: cfimx who wrote (63713)2/6/2006 9:05:38 AM
From: Michael F. Donadio  Read Replies (1) of 64865
 
Conigliaro says "Sun Microsystems Primed For Growth "
Tom Van Riper, 02.02.06, 4:10 PM ET

forbes.com

The negative sentiment that many investors still show toward Sun Microsystems (nasdaq: SUNW - news - people ) might be ready to work in favor of those willing to plunge in at today's low levels, according to Goldman Sachs technology analyst Laura Conigliaro.

Among all the stops and starts the company has encountered in trying to rebuild from its fall from the software development perch it once dominated, Sun's latest round of product upgrades shows signs of rebuilding its competiveness.

"We have continued to see evidence of gradual improvement for Sun in the marketplace," Conigliaro said in a client note Thursday.

Sun Chief Executive Scott McNealy told analysts on Tuesday that the company should be primed for a round of growth following a period during which it focused on cutting costs and revamping its product line.

Sun shares have lost over three-quarters of their value in the past five years.

Conigliaro, who rates the company's shares "in-line" thinks that while the Sun story is still not clearly resolved, new products should bring in 80% to 90% of revenue in the fiscal year that ends in June.

And with forecasts calling for technology spending by businesses to grow this year from 2005, the new product mix should give the company the means to take advantage, she believes.

"We have already seen some evidence of this…more than anything it has caused investors to start paying attention," Conigliaro said.
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