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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (1723)	8/29/2002 11:34:07 AM
From: Night Writer	Read Replies (2) \| Respond to of 4345

CJ, Retired the MU short this morning. Thank you Morgan Stanley. <G> NW RESEARCH ALERT-Morgan Stanley downgrades Micron Tech NEW YORK, Aug 29 (Reuters) - Morgan Stanley on Thursday said it cut its rating on Micron Technology Inc. <MU.N> shares to "underweight" from "equal-weight," saying weak back-to-school demand for personal computers may hurt the No. 2 maker of computer-memory chips. "According to our model, DRAM (computer-memory chips) supply estimates are increasing while PC (personal computer) demand and macroeconomic growth estimates are declining," analyst John Cross wrote in a research note. Shares of Micron on Wednesday closed at $17.83 on the New York Stock Exchange. In Europe on Thursday, Morgan Stanley downgraded the chip sector to "in line" from "attractive" on growth concerns. "Although valuations have improved significantly, we believe the potential for slower consumer end-demand will result in a weaker operating environment prior to any renewed growth in corporate technology spending," the investment house said in a research note. ((Ilaina.Jonas@reuters.com, New York Newsdesk, 646-223-6193)) REUTERS * end of story *