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Technology Stocks : Ascend Communications (ASND)

ASND 210.01

+1.7%

Nov 26 3:59 PM EST

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To: Techplayer who wrote (60186)	2/27/1999 11:41:00 AM
From: Bindusagar Reddy	Read Replies (1) of 61433

This from Barrons today. Milunovich (MLananlyst)still sees 15% unit growth in personal computers this year, but because prices are falling, revenue growth may be just 5%-7%. (I think PC growth will be 30% unit and revenue growth 5-7% IMHO) His view: A slowdown in revenue growth may make it tough for PC makers to hit their ambitious profit targets. The Compaq setback came a week after Wall Street's disappointment with Dell Computer's fourth-quarter revenue growth, which prompted a sharp decline in Dell's stock. "The issue is whether the personal-computer industry is slowing down," says Steve Milunovich, Merrill Lynch analyst, who Friday cut his first-quarter profit estimate for Compaq to 30 cents a share from 35 cents. He also trimmed his 1999 estimate to $1.75 from $1.80. Milunovich's earnings revision admittedly was mild, but it's worth noting that a month ago, there were whispers on Wall Street that Compaq might earn $2 a share this year. The reaction to the Compaq news was severe because so many momentum-oriented investors focus on profit revisions.

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