Analyst Robert Cihra says he cut estimates in line with reductions he's made across the PC market (he also cut Gateweay, Apple and Compaq.) He cut the $0.16 Q3 EPS estimate to $0.15, and trimmed the $7.4 billion Q3 revenue estimate to $7.2 billion. He also cut the $0.66 fiscal 2002 (Jan.) EPS estimate to $0.63, and trimmed the $31 billion fiscal 2002 revenue estimate to $30.5 billion.
Additionally, Cihra cut the $0.77 fiscal 2003 EPS estimate to $0.71, and lowered the $33.3 billion fiscal 2003 revenue estimate to $32.3 billion.
Finally, Cihra cut the $30 target to $25, and kept his add rating.