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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61410)	3/5/2002 12:41:15 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

RESEARCH ALERT-Goldman analyst lowers EMC '02 forecast (How can the chips do well without storage? Stan) March 04, 2002 12:00:00 PM ET news.moneycentral.msn.com BOSTON, March 4 (Reuters) - An influential Wall Street analyst on Monday lowered her 2002 earnings outlook for EMC Corp. (EMC), saying the world's No. 1 data-storage systems maker has gotten off to a slow start. Goldman Sachs analyst Laura Conigliaro said she no longer expects EMC to break even this year and lowered her forecast to a loss of 3 cents per share. ``We are trimming our forecasts on EMC in the face of weak demand and pricing pressure,'' Conigliaro wrote in a research note to investors. ``As we have been saying for several weeks, EMC appears to have gotten off to a slow start to the quarter, with constrained IT spending, intense competition and pricing weighing on storage array (companies).'' Shares of Hopkinton, Massachusetts-based EMC were up 44 cents, or 3.85 percent, to $11.86 Monday on the New York Stock Exchange. The stock is off about 12 percent this year, underperforming the relatively flat Standard & Poor's 500 Index. EMC, which ended 2001 with two consecutive money-losing quarters, does not expect to return to profitability until the second half of 2002.