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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: Nimbus who wrote (5097)	10/18/2002 7:47:41 PM
From: Raptech	Respond to of 5390

From Morningstar: Despite recent cost-cutting, the situation at wireless networking giant Ericsson ERICY quote.morningstar.com is deteriorating. Ericsson reported very weak September quarter results Friday. Of note was the 46% drop in orders from a year ago, the byproduct of a steep decline in capital spending among cash-strapped wireless service providers. Also, the firm's cell phone joint venture with Sony SNE quote.morningstar.com ticker=SNE posted a dismal performance, highlighting Ericsson's growing irrelevance in that field. Although Ericsson recently raised $3 billion in cash, it won't last long with performance like this. In our view, there is no reason to invest in this sorry company.