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

To: Gottfried who wrote (5005)	8/22/2002 9:05:47 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95385

7:13AM Solly cuts growth forecasts for semi industry : Salomon Smith Barney cuts their semi industry growth forecast for 2002 to +0.5% from +4% and for 2003 to 12% from 21%, and projects 17% for 2004; semi shipments in 1H02 had been running slightly above trend, but firm believes this was due to excess inventory builds being worked off; with the exception of wireless handsets, demand in most segments remains slow and a seasonal uptick in 2H02 may be weaker than normal. Top picks are ADI, TXN, MU, and INTC. 8:47AM FOCUS Enhancements chip accepted for Xbox (FCSE) 1.33: Announces that it has successfully developed the FS454 chip for the Xbox. In May 2001, Microsoft and FOCUS began an OEM development program to produce a low-cost TV-Out chip with fine text capabilities that would fit into the existing Xbox configuration, as part of a cost reduction. 8:04AM Microsoft: Solly upgrade details (MSFT) 52.28: -- Update -- As mentioned earlier (7:04), Salomon Smith Barney upgraded MSFT to OUTPERFORM from Neutral, based on the following data points from their IT spending survey: 1) CIOs expect to spend more on MSFT products over the next 6 months, 2) more customers are signing Enterprise Licensing Agreements, 3) Windows mkt share for mission critical applications is increasing, 4) the current shift to Linux appears to be more of a threat to UNIX, and 5) healthy deferred revenue growth in the Sept qtr. Raises price target to $59 from $56. 7:20AM Ciena beats by $0.03 on light revenues (CIEN) 4.49: Reports Q3 loss of $0.16 per share, $0.03 better than the Multex consensus. Revenues fell 89.1% to $50.0 mln vs the $65.8 mln consensus. Sees Q4 revs flat to slightly up from Q3 (consensus $74.63 mln). 7:04AM Microsoft upgraded at Solly (MSFT) 52.28: Salomon Smith Barney upgrades to OUTPERFORM from Neutral and raises price target to $59 from $56. 7:02AM Cree cut to Reduce from Hold at UBS; price target $12 (CREE) 16.91: UBS Warburg downgrades to REDUCE from Hold based on what firm views as excessive optimism over the implications of co's ramp in LED sales targeting backlighting applications for color cellular handsets. Specifically, firm has concerns surrounding sell through potential of these higher-priced handsets and competitive threats from Taiwanese and Japanese rivals. Firm maintains 12-month target of $12 (based on 4x 2003 sales). finance.yahoo.com^SOXX+ADI+ALTR+AMAT+AMD+BRCM+CIEN+CREE+FCSE+INTC+KLAC+LLTC+LSCC+LSI+MOT+MSFT+MU+MXIM+NSM+NVLS+TER+TXN+XLNX+^IXIC+^VIX&d=t RtS