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To: Sarmad Y. Hermiz who wrote (108863)	9/23/2000 10:00:54 AM
From: Catcher	Read Replies (2) \| Respond to of 164684

--"But Dell, CPQ and HWP all issued re-assurances that their Q3 rev/e are as expected. And all went up while INTC crashed." so you think it is plausible that revenues can shrivel for the company that produces 90% of the chips that go into pc's but the problem will remain confined to intc?

To: Sarmad Y. Hermiz who wrote (108863)	9/23/2000 12:57:00 PM
From: Bob Kim	Read Replies (1) \| Respond to of 164684

But Dell, CPQ and HWP all issued re-assurances that their Q3 rev/e are as expected. Dell and HWP had their revenue estimates cut in August. For example, ML cut Dell's 3Q revenue estimate for a second time in August for a net revenue reduction of $413 mil versus its estimate in mid-July. Back then ML was looking for full year revenue growth of 33.8%, now it's looking for Michael Dell's publicly stated 30.0%. During that span ML has cut its price target from $70 to $54, all while maintaining its Buy rating.