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To: Stoctrash who wrote (166746)	6/21/2002 11:00:23 AM
From: Road Walker	Respond to of 186894

Salomon Analyst Raises Rating on Dell, Saying PC Demand Is Stable By: Donna Fuscaldo Dow Jones Newswires NEW YORK -- Despite Intel Corp. (NasdaqNM: INTC - News) 's and Advanced Micro Devices Inc.'s ( AMD) negative comments about the state of the personal-computer market, Salomon Smith Barney upgraded its rating on shares of Dell Computer Corp. , saying that demand for PCs isn't as bad as it seems. ADVERTISEMENT Salomon analyst Richard Gardner on Friday upped his rating on Dell to "buy" from "neutral" and reiterated his $30 price target on the stock. According to the analyst, PC component suppliers' results are being hampered by an inventory correction, not a drop-off in demand. Channel checks suggest that "U.S. corporate demand is stable, U.S. consumer is just slightly below seasonal norms and Europe is generally in line with seasonal norms," Mr. Gardner wrote in a research report. The analyst said Intel's and AMD's lower financial targets for the second quarter are largely a result of an inventory correction by Hewlett-Packard Co . ( HPQ), and also because their projections were overly optimistic to begin with. "H-P and Compaq have both cited roughly two times normal PC inventory levels in U.S. retail and some excess inventory in Europe as well," Mr. Gardner said. " They are now reducing shipments into the channel to return inventories to normal. This is obviously having a negative impact on sales of motherboards and microprocessors." Furthermore, the analyst said that Dell, as the low cost producer in the PC market, should be the primary beneficiary of share loss at Gateway Inc. (NYSE: GTW - News) and H-P in the coming quarters. "These two opportunities along could deliver 100% of consensus revenue growth over the next year," Mr. Gardner noted. As for Dell's current quarter, the analyst said it is tracking in line with the company's targets laid out when it reported fiscal first-quarter earnings in May. Back then Dell forecasted earnings of 18 cents a share on sales of $8.2 billion. Analysts, according to Thomson Financial/First Call, expect the Round Rock, Texas -based computer maker to earn 18 cents a share and revenue of $8.2 billion in its second quarter. Separately, Dow Jones Newswires reported Friday that Dell's business is on track thus far in its current quarter, despite the recent earnings warning out of Intel and AMD. In an interview with Dow Jones Friday, Michael Dell, chief executive, said: " I'm feeling very good about our business, and our business is doing well." -By Donna Fuscaldo, Dow Jones Newswires; 201-938-5253; nna.fuscaldo@ dowjones.com (Bob Sechler contributed to this report.)

To: Stoctrash who wrote (166746)	6/21/2002 11:43:54 AM
From: wanna_bmw	Read Replies (2) \| Respond to of 186894

Stoctrash, I am willing to give most TA touting posters the benefit of the doubt, which is more than most people seem willing to do on this thread. But you're just a complete idiot who happened to get lucky and make a good call. Well, even blind squirrels find an acorn once in a while. I hope you enjoy your acorn. wbmw

To: Stoctrash who wrote (166746)	6/21/2002 12:41:32 PM
From: The Duke of URL©	Read Replies (1) \| Respond to of 186894

I am not a believer in specialist manipulation but I am seeing "late" trades (which don't get reported) at higher than the current ask and higher than the "high" for the day. Perhaps Arther Anderson is about.