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

To: Return to Sender who wrote (10885)	8/7/2003 9:49:26 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95834

From Briefing.com: 8:55AM AMAT target raised to $21 at Morgan Stanley : Morgan Stanley also comments on co's Aug 12 earnings report; firm believes that co's flat Q3 guidance is achievable, but believes expectations limit upside tied to the earnings report. 8:05AM Broadcom upgraded at Morgan Stanley (BRCM) 20.01: Morgan Stanley upgrades to Overweight from Equal-Weight; firm believes that investors are discounting a worst-case scenario for the server segment in 2004, but are not adequately giving the stock credit for the co's strength in its other business segments; firm says BRCM's emerging product segment was already 30% larger than ServerWorks in Q2, and expect it to grow more than four-fold this year and more than 80% in 2004. Target is $30. 7:34AM JP Morgan reits Underweight on Intel (INTC) 24.14: JP Morgan reiterates their Underweight rating on INTC, saying it remains the most expensive stock under coverage trading at 31x their CY04 EPS est, well above its pre-bubble range of roughly 10-20x; in addition, the co disclosed in its 10-Q that it has received notice from the IRS of a proposed adjustment relating to a tax benefit from export sales that could increase the co's tax liability for 1999-2000 by about $600 mln, which could result in a reduction in EPS of about $0.08 to FY99 and FY00 earnings. 6:52AM Silicon Image announces favorable ruling in Genesis Micro case (SIMG) 4.90: Co announces that a federal court has issued its Final Judgment Order on the patent infringement suit against Genesis Microchip (GNSS). The court reaffirmed its July 15 ruling and ordered Genesis to make a cash payment as well as to pay all overdue quarterly royalty payments in exchange for licenses. None of the payments will be reflected in Silicon Image's financial reports if the judgment is appealed. 7:05AM EMC Corp upgraded at Bear Stearns, Wachovia (EMC) 10.85: Bear Stearns upgrades to Outperform from Peer Perform, saying the co is making progress in returning to its roots as a low-cost data storage vendor, and with an economic recovery driven pick-up in IT spending, there is potential for EMC to resume growth and deliver upside from expectations. Separately, Wachovia upgrades EMC to Outperform from Mkt Perform based on the co's improving competitive position within the storage mkt and potential earnings leverage to an IT spending recovery in 2004. SMTL Semitool upgraded at DA Davidson; target $10 (6.05) DA Davidson upgrades to Buy from Neutral based on relative valuation as well as an improved cost structure, new technology that should displace competitors, and an improved industry-wide order outlook; raises target to $10 from $6. finance.yahoo.com

To: Return to Sender who wrote (10885)	8/7/2003 9:49:42 AM
From: Cary Salsberg	Read Replies (1) \| Respond to of 95834

RE: "Wednesday's action played into Briefing.com's argument that the path of least resistance for the time being lies to the downside and we would contend a re-test of the bottom of the June trading range (1597-1600) is a distinct possibility. Even though the market has traded poorly of late, and we would refrain from committing new money, it is still too early in our estimation to view the action as anything more than normal corrective activity following a huge rally off the March lows.--" "path of least resistance" = DOWN "re-test of the bottom of the June trading range (1597-1600) is a distinct possibility." = DOWN SIGNIFICANTLY "anything more than normal corrective activity following a huge rally off the March lows" = NOT DOWN SIGNIFICANTLY and UP AS SOON AS CORRECTION IS OVER So Briefing.com joins the legion that forecast up, down, or unchanged!<g>