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

To: Kirk © who wrote (14387)	4/10/2004 2:12:40 AM
From: Donald Wennerstrom	Respond to of 95640

Some prognostications about next week. cbs.marketwatch.com <<Quarterly results for a hungry market Wall Street eager for some positive news -- for a change By Carolyn Pritchard, CBS MarketWatch.com Last Update: 8:27 PM ET April 9, 2004 SAN FRANCISCO (CBS.MW) -- For a market bogged down in recent weeks by malaise over disarray in Iraq and more job losses, the first-quarter earnings season will be a welcome diversion when it shifts into high gear next week. But it should also propel the markets to higher ground, analysts say, as year-over-year earnings growth of 20 percent or more provides compelling evidence that an economic recovery is well under way. "We expect to see further upside if the market continues to trade on fundamentals and not on fear," said Stephen Biggar, associate director of equity research at Standard & Poor's. The results are expected to mark the eighth straight quarter of year-over-year earnings growth, underscoring the trend of resurgent confidence in Corporate America as companies increasingly rebuild their capital-equipment budgets. At the same time, however, year-over-year comparisons will soon start to seem less impressive since many companies enjoyed such a sharp rebound last year and the stimulating effects of tax cuts and low interest rates are beginning to fade. Even so, market professionals looking to the next crop of reports are clearly sanguine about the outcome. "First-quarter results are going to be fantastic," said Nick Raich, director of research for Zacks Investment Research. The technology sector draws a mixed reaction from equity analysts. On one hand, a 75 percent jump in earnings is expected, according to S&P, reflecting years of cost-cutting and a rebound in corporate spending on information technology gear. That's especially true for semiconductor companies, and S&P expects upbeat earnings reports at Microchip Technology (MCHP: news, chart, profile), Analog Devices (ADI: news, chart, profile) and Cree (CREE: news, chart, profile). [snip]