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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Taro who wrote (6104)	10/18/2001 10:35:38 AM
From: Ibexx	Read Replies (1) \| Respond to of 6531

From Morgan Stanley this morning: Broadcom (BRCM-$28-O-V) Fundamentals Appear to Have Bottomed Mark Edelstone C3Q01 results were slightly better than expected. Revenue of $213MM was down 33% Y/Y, up 1% Q/Q, gross margins were 110 bps better than expected, and operating expenses were down 5% Q/Q. Broadband and server sales grow, enterprise remains weak. We believe that the fundamental outlook for the cable broadband markets remain strong. The ServerWorks acquisition has contributed meaningfully since the beginning of the year. Mgmt guides for more Q/Q growth in C4Q01. We believe that broadband and server sales will be up again in C4Q, </band that the enterprise business is nearing a trough. We reiterate our Outperform-V rating. Our expectations for double-digit growth in C2H02 should move BRCM towards trend-line growth of 50% Y/Y. View full research note via Client Link at: secure.ms.com Ibexx