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To: SusieQ1065 who wrote (8416)	7/24/2001 5:55:08 PM
From: ChrisJP	Read Replies (1) \| Respond to of 208838

InfoSpace (INSP) sees more losses ahead amid tech slowdown biz.yahoo.com Dropped back down to 3.10 in AH. Edit: now at 2.90- 3.00 in AH Second Edit: now trading around 2.80. Chris

To: SusieQ1065 who wrote (8416)	7/24/2001 8:09:50 PM
From: SusieQ1065	Read Replies (5) \| Respond to of 208838

QLGC Bottom Line: Storage is weak right now. Its outlook over the next few quarters makes it unsuitable for investors up here at a current p/e of 37x, but on a Nasdaq bounce, it would be one of the first to consider for a short term trade as momentum traders like it, and the warning is in the stock. Others to watch: Its switch products compete with Brocade (BRCD 29.18 +1.07) while in the HBA market, QLGC competes with Emulex (EMLX 22.81 -0.60), Adaptec (ADPT 10.89 -0.26) and JNI Corp. (JNIC 9.12 -0.83). -- Robert J. Reid, Briefing.com 19:02 ET ****** QLogic Corp. (QLGC) 40.74 -1.39: QLogic makes Fibre Channel (FC) switches and host bus adapters (HBAs) for Storage Area Networks (SAN). In addition to FC products, the company also makes SCSI products which are an earlier generation and are being phased out by the company. JunQ results were in line with consensus although revenue came up a bit short. We do not read too much into the revenue miss as the SCSI business was weak and that's not really the focus of the company anymore. FC/SCSI split was 61/39, up from 48/52 the year earlier. Other protocols like Storage-over-IP (SoIP) are attempting to replace FC as the protocol of choice. However, FC is the best technology right now and most appropriate for SANs. It may be replaced someday just as it replaced SCSI, but it does not appear imminent....Admittedly, the press release was pretty scary as it was very short and provided no guidance which caused the stock to trade into the $36's, but has rebounded to $39 as the conference call was not as gloomy as expected....QLGC guided down for SepQ as it now expects revenue to flat to negative 5% vs JunQ. When compared to a consensus was for $99.6 mln, a flat sequential qtr would be $92.1 mln and a -5% sequential decline would be $87.5 mln. So it is a bit of a miss, but the FC side of the business appears stronger. Bottom Line: Storage is weak right now. Its outlook over the next few quarters makes it unsuitable for investors up here at a current p/e of 37x, but on a Nasdaq bounce, it would be one of the first to consider for a short term trade as momentum traders like it, and the warning is in the stock. Others to watch: Its switch products compete with Brocade (BRCD 29.18 +1.07) while in the HBA market, QLGC competes with Emulex (EMLX 22.81 -0.60), Adaptec (ADPT 10.89 -0.26) and JNI Corp. (JNIC 9.12 -0.83). -- Robert J. Reid, Briefing.com