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Technology Stocks : Semi Equipment Analysis

SOXX 303.84

+1.3%

Dec 22 4:00 PM EST

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To: Donald Wennerstrom who wrote (39707)	7/29/2008 11:47:56 AM
From: Donald Wennerstrom	Read Replies (1) of 95622

SanDisk 9:50 AM ET 7/29/08 \| Briefing.com Target $20.5 to $11. Caris & Company downgrades SNDK to Below Average from Above Average and lowers their tgt to $11 from $20.50 following recent round of industry channel checks, worsening macroeconomic outlook, and Samsung's announcement that it will not reduce its CapEx and bit growth plans for NAND in 2008E. They now believe that the over-supply of NAND will not trough in Q3 but continue through 2H08E resulting in greater than previously expected inventory write downs and lower product gross margin and revenue for SNDK.

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