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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Jimbo Cobb who wrote (55941)	4/7/1999 1:49:00 PM
From: rupert1	Read Replies (3) \| Respond to of 97611

Merrill Lynch on Techs: M.Lynch -5: Computer Services Remain Tech Safe Haven Dow Jones Newswires Revenue growth in the recovering semiconductor industry should slightly top 10% in 1999, said Merrill Lynch semiconductor analyst Joseph Osha. The analyst said he expects accelerating improvement in unit demand for PC microprocessors, aided in part by the growth in the sub-$1,000 computer segment. Unit demand for PC chips should be stronger than forecasters are predicting, Osha said, adding that he expects demand to increase by 21% this year over 1998. Osha said he expects Intel to report first quarter earnings of $1.10, in-line with the First Call Corp. view. For the year, the analyst is estimating earnings of $4.73, above the First Call expectation of $4.68. In wireless equipment, "the sales environment looks stable," said analyst Michael Ching. First quarter revenue will be up 11% on average and earnings per share will increase 10%, compared to year-ago declines of 9%, he said. The best-positioned companies in the sector include Motorola Inc. (MOT), Qualcomm Inc. (QCOM), Nokia Corp. (NOKA) and DSP Communications Inc. (DSP), Ching said. Computer services companies remain one of the safest havens for technology investors because of the group's healthy and predictable earnings growth, according to analyst Stephen McClellan. The standout members of the group include Computer Sciences Corp. (CSC), Convergys Corp. (CVG) and DST Systems Inc. (DST), McClellan said. Electronic Data Systems Corp. (EDS), which will report weak results in the first quarter, is a company to watch because of its new chief executive's focus on turning around the company, he added