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

To: Return to Sender who wrote (8812)	2/26/2003 1:32:43 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95656

From Briefing.com: 11:38AM Texas Instruments: Wachovia reiterates Outperform (TXN) 15.92 -0.11: Wachovia reiterates their Outperform rating on TXN based on expectations for flat sequential revs in the March qtr (vs seasonally down for many other semi co's) as well as expectations for a ramp in wireless in the the June qtr/2H03. Separately, we're hearing TXN reiterated guidance at the Goldman Sachs conference today. 7:26AM Hewlett-Packard cut to In-Line from Outperform at Goldman after revenue shortfall (HPQ) 18.18: Goldman Sachs says that although EPS topped consensus, co's qtr was far from clean. Firm cites items including the restatement of segment revs/earnings, a significant top-line shortfall, and notably weak cash flow from ops. Goldman is reducing its CY03 est to $1.29 from $1.34 and rev est to $73.7 bln from $75.5 bln. Firm sees little that will get new investors excited about the stock at this pt. 7:20AM Tellabs upped to In-Line from Underperform at Goldman Sachs -- valuation (TLAB) 5.82: The upgrade is based on valuation, as shares have fallen 32% since Nov 4 and are now near fair value. While stock may still have potential for 5-10% more downside, the downside is not sufficient for firm to maintain an Underperform rating. 7:16AM Oracle upped to Outperform at Bernstein; target $15 (ORCL) 11.94: The upgrade from Mkt Perform is based on increasing expectations for an in line second-half of FY03 and above consensus projections for the first-half of FY04 driven by improving dynamics in the co's core database franchise. 7:13AM Microsoft upped to Buy at Deutsche; target $30 (MSFT) 24.19: The upgrade is on a trading basis. Firm believes that most of the negative news specific to the stock is factored in -- including cautious guidance by management, sluggish IT environment, the Linux threat, and the pending European antitrust suit; thinks that investor with a 12-month horizon should look at the stock here, as risk/reward is now skewed to the upside. Price target $30. finance.yahoo.com^SOXX+ALTR+AMAT+AMD+BRCM+HPQ+INTC+KLAC+LLTC+LSCC+LSI+MOT+MSFT+MU+MXIM+NSM+NVLS+ORCL+POWI+TER+TLAB+TXN+XLNX+^IXIC+^NDX+^SPX+^VIX+^VXN+^STI.N+SMH&d=t

To: Return to Sender who wrote (8812)	2/26/2003 9:46:58 PM
From: robert b furman	Read Replies (1) \| Respond to of 95656

Hi RtS, I agree and I agree. The anemic pop has failed and we now grind lower in a flat line the brutalizes all sectors. That being said, I think for the first time we will observe higher lows. This in the long term is a good thing. Don't get me wrong - I'm not a MOMO freak,we're going to the moon tomorrow. I'm thinking we go thru a final shakeout (great buying opportunity) and then continue slow growth and profitability. If you like to buy low and sell high - this is a great opportunity. I could be way wrong. Bob