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Goldman Cuts Estimates on Sun Microsystems


Goldman Sachs cut its estimates on Sun Microsystems (SUNW).

Analyst Laura Conigliaro says with the third quarter now over, the sense is that, while Sun's quarter ended on a strong note, revenues were likely sequentially flattish, probably with a slight bias towards a downside. As a result, she trimmed her third quarter revenue estimate to $3.108 billion. She maintains her $0.02 third quarter loss estimate. Additionally, Conigliaro lowered her fourth quarter and forward estimates to reflect a more muted recovery in IT spending. Although she says she suspects some near-term expectations may now need to be ratcheted down, in the long-term she continues to view Sun favorably -- given the operating leverage in its model, and its EPS power in a normalized environment.


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