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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (75322)	6/6/2002 12:05:31 PM
From: Sully-	Respond to of 99280

12:02 ET National Semi halted-- news pending (NSM) 29.13 -1.53: -- Update -- 11:56 ET Applied Micro: Needham maintains Sell rating (AMCC) 6.25 unch: Needham maintains their Sell rating and says they do not believe AMCC will meet its flat rev guidance for Q1 given limited visibility and particularly as carrier capex remains soft and could decline further; also, firm does not believe co will achieve breakeven in Q4 (which the co reiterated yesterday) and notes that AMCC has only taken roughly $5 mln out of its cost structure from March 2001 and expects to take out only another $5 mln by March 2003. Believes current valuation is excessive given current mkt conditions. 11:36 ET EMC Corp reaffirms Q2 forecast (EMC) 7.45 +0.27: Reaffirms Q2 forecast (announced in April) that it expects to achieve single-digit sequential rev growth, and indicated that as usual a significant portion of EMC's biz remains to be completed in the third month of the qtr; co states that it is comfortable with the Q2 consensus est of ($0.02). 11:33 ET Sector Watch: Semiconductor : Not the worst performing sector today but under substantial in wake of early downgrades. Pacing the way are: BRCM -5.9%, AMAT -5.2%, INTC -4%, NSM -4.9%, LLTC -5.3% and MOT -3.5%. Index (SOX) has recently pushed to a new seven month low with the Semi HOLDRs (SMH 36.51) now eyeing its May/Jun low at 36.45/36.30.