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Technology Stocks : Semiconductor and Semi-Equipment Analysts - Their Calls -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (124)	10/2/2000 4:09:32 AM
From: 2MAR$	Read Replies (1) \| Respond to of 195

Nikko Salomon Cuts Outlooks For Japanese Chip Makers TOKYO (Dow Jones)--Nikko Salomon Smith Barney Ltd. downgraded Monday the earnings outlook for five Japanese chip and related equipment makers, blaming recent falls in chip prices and in demand for personal computers. Hiroshi Yoshihara, an analyst at Nikko Salomon, said he cut his estimate of average sales prices for 64-mega dynamic random access memory (DRAM) chips to $6.0 from $7.5 and for 16-mega flash memory chips to $5 from $8. Based on this assumption, he downgraded the earnings outlook for chip makers Toshiba Corp. (J.TOS or 6502), NEC Corp. (J.NEC or 6701) and Fujitsu Ltd. (J.FUT or 6702) for the fiscal year ending March, 2002 and thereafter. For the fiscal year ending March, 2002, Yoshihara lowered his projections for Toshiba's group net profit to Y168.00 billion from Y178.00 billion. He cut his share price target for Toshiba to Y1,500 from Y1,700. The analyst lowered his projection for NEC's group net profit in the fiscal year to March, 2002 to Y109.00 billion from Y143.13 billion and his share price target for the company to Y3,100 from Y4,100. Yoshihara downgraded the investment rating on the issue by one notch to "outperform" (the second highest in Nikko Salomon's five-scale ratings) from "buy." Yoshihara cut his estimate for Fujitsu's group net profit in the fiscal year to March, 2002 to Y92.00 billion from Y177.00 billion, while he lowered his share price target for Fujitsu to Y2,800 from Y3,800. As for two makers of chip-making equipment makers, Advantest Corp. (J.ADV or 6857) and Nikon Corp. (J.NIK or 7731), the analyst expects earnings to deteriorate from the fiscal year to March, 2003. Yoshihara cut his projection for Advantest's group net profit in the fiscal year ending March, 2003 to Y54.00 billion from Y73.00 billion. He cut his share price target for Advantest to Y21,600 from Y28,000. The analyst lowered his projection for Nikon's group net profit in the fiscal year ending March, 2003 to Y20.00 billion from Y30.00 billion and his share price target for the company to Y2,160 from Y4,100. (END) DOW JONES NEWS 10-02-00 03:57 AM * end of story *