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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (93206)	9/26/2001 8:10:40 AM
From: PCSS	Read Replies (1) \| Respond to of 97611

G-S Research today ....... Lowering Ests on EMC, IBM, Sun As Magnitude of Effect of 9/11 Appears Sizable We are just now beginning to size the probable magnitude of impact from the combination of an already-weak economy coupled with the events of Sept. 11. The timing and location of the WTC crash has put enormous pressure on the closing process and raised new questions in the minds of corporate users about near-term spending levels. We are lowering estimates further on EMC, IBM, and Sun given their September quarter end and will re-evaluate other stocks whose quarter has another month to go. At current levels, valuations using proxies for normalized revenues and earnings are not unreasonable for long term investors.