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Piper, J.P. Morgan Latest to Chop Software Estimates; Morgan's DiFucci Says "Everything's Cheap"

in News on October 8, 2008 at 1:21 pm PT

Time to draw a line in the sand? J.P. Morgan software analyst John DiFucci this morning did what every good software analyst has been doing in the last few days, and chopped his estimates for most of the companies in his coverage universe. The reductions reflect both the impact of the rising dollar, which tends to hurt results for the companies in the sector, and the softening macro backdrop.