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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (4931)	8/16/2002 9:24:52 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95456

Intel falls after Morgan Stanley cuts targets biz.yahoo.com NEW YORK, Aug 16 (Reuters) - Shares of Intel Corp. (NasdaqNM:INTC - News) dropped 2.7 percent before the bell on Friday after Morgan Stanley cut its price and earnings per share targets for the world's largest chipmaker. Morgan Stanley said Friday it cut its share price target to $27 from $38. It also cut its 2002 earnings estimate to 55 cents per share from 59 cents and lowered its 2003 estimate to 80 cents from 95 cents per share. The stock fell to $18.10 in pre-market trading after closing at $18.61 Thursday on Nasdaq. Morgan Stanley said in the note that demand so far this month has been flat compared with July. It said it expects Intel's 2002 revenue to be unchanged from last year's sales. The brokerage house said it believed corporate and consumer spending should rebound modestly in 2003. Morgan Stanley rates Intel as an "equal weight".