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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Michael L. Voorhees who wrote (13917)	1/22/1999 3:03:00 PM
From: Xpiderman	Read Replies (3) \| Respond to of 64865

Dan Niles upgraded AMD when it was in 40s, look how low AMD is tarding now (low 20s). So why people in their right mind would trust this boy again? Sun downgraded by BancBoston SAN FRANCISCO, Jan 22 (Reuters) - BancBoston Robertson Stephens analyst Dan Niles downgraded Sun Microsystems Inc. to a long term attractive from a buy rating. -- Niles said he downgraded Sun because of the recent drop-off in bookings and backlog and their correlation to future stock performance, a tougher competitive environment in the future and the recent surge in the stock price. -- On Thursday, Sun Micro reported second quarter earnings that were slightly better than expected. ''We see signs of slower growth and over-valuation, following the company's second quarter 1999 report,'' Niles said in a statement, adding that Sun's revenues of $2.78 billion fell slightly short of his expectations of $2.84 billion. The revenue shortfall was due to the company's transition to a new order-entry system. -- Niles said that Sun's backlog of orders also dropped nine percent sequentially. -- Sun's shares were up $1.75 to 100 in active trading.