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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (467)	4/23/2001 1:30:04 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95761

The following is from Briefing.com this morning. In pre-market activity, Merrill Lynch is contributing to this morning's negative bias as it has come out negative on the chip sector this morning lowering its near-term ratings on Intel (INTC 32.43), Applied Micro Circuits (AMCC 30.00), PMC Sierra (PMCS 44.81) and Vitesse Semiconductor (VTSS 34.77) to Neutral from Accumulate. Merrill analyst Joe Osha believes the fundamental bottom for the sector is still a quarter away and sees the potential for 40% downside in the SOX from current levels. Separately, Oracle (ORCL 19.75) has been downgraded to Buy from Strong Buy. Last Friday, the SOX was in the 670 area. Down 40 percent from there gets the SOX to about 400. That is considerably lower than the 450 to 470 lows earlier this month.