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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: TraderEd who wrote (10834)	8/4/2000 10:15:01 AM
From: Lynn	Respond to of 17183

ML put out a new research bulletin on EMC yesterday. Here are the highlights: "EMC Corp: TNT and the Content Big Bang" by Steven Milunovich, CFA, First Vice President, and John M.A. Roy, Director Reason for Report: Analyst Meeting 12 Month Price Objective: $105 Investment Opinion: B-1-1-9 [9 = no dividend] Investment Highlights: EMC hosted over 400 investors, analysts, and press at its annual Analyst Meeting in Boston to discuss its TNT (The Next Thing). We are always impressed with how EMC operates and the multiple benefits of its storage-only focus. EMC management has been deepened in the past year, giving us confidence that EMC can stay at the top. We are retaining our EPS and earnings estimates. We reiterate our Buy rating with $105 price objective, which is 105X our 2001 earnings estimate. Fundamental Highlights: EMC’s sees the Content Big Bang just beginning, with a 50 million fold increase in the value of the Internet by the year 2005. That means storage demand could exceed expectations though EMC didn’t alter its financial estimates. EMC sees incremental growth from Asia Pacific, market share gains in midrange storage, and taking on NetApp in network-attached storage. Lynn