Markets & Finance

Merrill Lynch Cuts Broadcom Estimates


Merrill Lynch cut estimates on Broadcom (BRCM ).

Analyst Mark Lipacis says he picked up a couple of themes at the SUPERCOMM industry conference this week. He says his checks indicated demand is still weak, and will likely remain weak for several quarters. He says pricing pressures are more likely. As a result, he cut the 2001 and 2002 estimates for the communication-IC sector, such as Applied Micro Circuits, Broadcom, Exar Corp., PMC-Sierra, and Technology Solutions and Vitesse Semicondutor. He maintains his near-term neutral rating and long-term buy on Broadcom.

Lipacis says he's cautious due to weak carrier demand and high inventories. Also, he sees potential end-of-fiscal-year selling pressure.


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