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To: Bill Harmond who wrote (9331)	10/24/2001 2:07:13 PM
From: stockman_scott	Read Replies (1) \| Respond to of 57684

Tech Stock Analysis Updated: 24-Oct-01 General Commentary Chip and chip equipment stocks drifted for most of the session, as reflected by the slight 4 point loss in the Philadelphia Semiconductor, or SOX, index... Sector's behavior over past several days has been a little strange to us, as we can't understand the excitement over the capex reductions projected for next year... Monday saw the group, especially the chip equipment companies like Applied Materials (AMAT), KLA-Tencor (KLAC), Novellus (NVLS) and Teradyne (TER), post sizable gains (7% or more) in response to rumor that Intel (INTC) would cut its capex spending by between 10% to 20% v. 30% feared by many... Though Intel later denied the report, investors now seem to expect more modest cuts in spending... A Reuters report Tuesday, however, noted that research firm IC Insights projecting a 25% reduction in capital spending in FY02, with Intel posting the biggest drop - 40%. Briefing.com doesn't know whether spending will be reduced by 20%, 30% or 40%... One reason for that is that the chip companies themselves have little idea how good/bad business will be next year, as most are opting not to provide guidance beyond Q4... Global economic conditions are simply too fluid for accurate forecasting. What we do know, however, is that economic conditions are soft and show no signs of recovering in the immediate future... We also know that (in general) sales and earnings growth continues to decelerate... With layoffs mounting, the economy faltering and consumers buckling it seems imprudent to make an investment which requires the best-case scenario in order to pay-off. Consequently, we look for the recent advance in the chip sector to short-circuit in the days and weeks to come... Considering the Nasdaq often follows the SOX, that's bad news for the rest of the tech sector as well. -- Robert Walberg, Briefing.com

To: Bill Harmond who wrote (9331)	10/24/2001 2:35:58 PM
From: Mark Fowler	Respond to of 57684

Bill thanks!!

To: Bill Harmond who wrote (9331)	10/24/2001 3:32:09 PM
From: Mark Fowler	Read Replies (2) \| Respond to of 57684

Bill nice move on Brcm today, i like that.

To: Bill Harmond who wrote (9331)	10/24/2001 3:38:34 PM
From: Mark Fowler	Read Replies (1) \| Respond to of 57684

Boston, Oct 24, 2001 (MidnightTrader via COMTEX) Ariba (ARBA) today reported a loss of $0.11 per share on revenue of $62.6 million in the second quarter. This compares with breakeven results on revenue of $134.85 million during the same quarter a year ago. Analysts expected the company to report a loss of $0.13 per share on revenue of $59.91 million, according to First Call. Stock is higher on 143,636 Island shares. Price: 3.01, Change: +0.10, Percent Change: +3.44%