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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: limtex who wrote (25828)	5/17/2004 10:22:05 AM
From: Steve 667	Read Replies (1) \| Respond to of 60323

LEXR Lexar Media: SG Cowen comments on competitive pricing environment (8.68 ) -- Update -- From Briefing SG Cowen out on Lexar Media and Sandisk saying that based on their recent survey suggests SNDK is aggressively leading price cuts, on avg about 30% since March (vs. 20% previously announced). LEXR appears to be more selective, but competitive in retailers where both brands are sold. LEXR average pricing declined 11% since March. Firm notes that PNY (a smaller player) was slow to react to price cuts, and on avg has shown flat pricing since the end of March. Thus, they see the potential for further market share consolidation for SNDK and LEXR. LEXR is near a 2-year low P/E, but the firm recommends investors await signs of more stable pricing before putting new money to work. Fear of further price declines could depress P/E for some time. ---- I guess Jill will get her calls today :-) Steve