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Technology Stocks : Electro Scientific???

ESIO 29.99

0.0%

Feb 1 4:00 PM EST

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To: vinh pham who wrote (547)	2/26/1999 3:18:00 PM
From: Mark Oliver	Read Replies (3) of 723

09:20 ET Chip Equipment Makers: Citing concern over PC growth, coupled with overall market issues such as bond prices, DLJ sees little upside momentum in the near-term. Leading chip equipment stocks indicated lower in pre-market. •09:53 ET Compaq Computer (CPQ) 34 7/8 -6 1/8 (-15%): --Update-- DLJ believes weakness in Compaq likely to hurt other sector stocks such as Intel (INTC), Gateway (GTW) and International Business Machines (IBM); says CPQ issues suggest softer March qtr for the industry than expected. 09:46 ET Compaq Computer (CPQ) 34 3/4 -6 1/4 (-15%): --Update-- DLJ downgrades issue from "buy" to "market perform" and cuts Q1 estimate from $0.35 to $0.30; lowers FY99 from $1.85 to $1.75 and reduces FY00 from $2.30 to $2.25. Firm drops 12-month price target from $60 to $45. Says firm seeing weakness in small to midsize N. American and European accounts; also feeling negative effect from currency fluctuations in Brazil. 09:42 ET Compaq Computer (CPQ) 35 5/8 -5 5/8 (-13%): Issue falls sharply in early trading after Merrill Lynch lowered Q1 estimate by 5 cents to $0.30 a share (vs current First Call mean of $0.35). 13:24 ET Semiconductor Equipment Stocks: NVLS -5, AMAT -6 1/2, KLAC -5 1/2, AEIS -7 1/8. Philadelphia Semiconductor Index (SOX) trading 7.5% lower on the session. All these moves seem connected, but not really very well thought out. I think the adoption of new devices will be fast and strong in the next 2 years and that more and more the PC will be topping out in unit volume. So, what does this mean to ESI that wasn;t know yesterday? Regards, Mark

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