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

To: shoreco who wrote (82708)	6/21/2002 8:05:02 AM
From: shoreco	Read Replies (4) \| Respond to of 99280

QCOM downgraded already.....LOL..... 7:49AM Details on BofA downgrade of Wireless Equipment stocks : As mentioned in the 7:28 comment, Banc of America downgrades QCOM to MKT PERFORM from BUY to reflect the potential risk of subsidy reductions spreading to the US mkt, and believes QCOM's biz would be meaningfully impacted if PCS decreases its promotions or reduced capex during its upgrade to CDMA 1X. Also, firm cuts MOT to MKT PERFORM from Buy due largely to valuation; cuts ERICY to UNDERPERFORM from Buy to reflect a prolonged depressed carrier spending environment and potential liquidity issues; cuts RFMD to MKT PERFORM from Buy based on handset transition to 2.5G and CDMA 1X as well as valuation; and cuts ANEN to MKT PERFORM from Buy based on weak carrier spending.