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Strategies & Market Trends : The Thread -- Ignore unavailable to you. Want to Upgrade?

To: stan s. who wrote (16786)	10/5/2000 11:13:22 AM
From: Mao II	Read Replies (1) \| Respond to of 49816

stan: Is this the "general semi downgrade"? Seems less than that. M2 Semiconductor stocks slouch By Janet Haney, CBS.MarketWatch.com Last Update: 10:54 AM ET Oct 5, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) -- Semiconductor shares were spooked Thursday by a cautious sales outlook from a major tech player, while one analyst called the upcoming earnings season "sloppy." "We think it's going to be a sloppy earnings season for the semiconductor business," wrote Merrill Lynch analyst Joe Osha in a research note. "Although we expect few outright misses, problems in both the PC and wireless end markets should limit Q3 upside in many cases, and should also contribute to a cautionary outlook going into the fourth quarter." Lending to his theory and putting pressure on the overall hardware sector is an earnings warning from Dell Computer. (DELL: news, msgs). See full story. Dell said sluggish demand in Europe hampered its sales outlook for the third quarter. The news comes shortly after Intel (INTC: news, msgs) revealed that slower-than-expected demand in Europe would hurt its quarterly revenue. Likewise, Apple Computer (AAPL: news, msgs) also said waning sales have affected sales. The Philadelphia Semiconductor Index ($SOX: news, msgs), which tracks chip and chip equipment stocks, dropped 2.6 percent to 840.98. In recent trading, Intel stock was flat at $42. Meanwhile, Micron Technology (MU: news, msgs) shares lost $1.25 to $45.69 a day after it released its fourth-quarter results, citing an increase in sales as well as prices for its products. See full story. The next semiconductor company to report its quarterly earnings is Motorola (MOT: news, msgs). The tech giant will announce its third-quarter results Oct. 10. Its shares dipped 25 cents to $29.50