Please open the attached file to read the complete text of the following
items:

06:11AM EDT 21-SEP-01 UBS WARBURG (US) (YOUNG, DON) PALM AAPL
PALM: CHANNEL INVENTORIES IMPROVE BUT SALES SLACKEN

08:29AM EDT 21-SEP-01 BEAR STEARNS (J. NEFF/BOBBA/HAND) HWP EMC
EMC: FIRST OF MANY PREANNOUNCEMENTS TO COME

08:31AM EDT 21-SEP-01 SG COWEN SECURITIES INC. (RICHARD CHU) AAPL
COMPUTER SYSTEMS/STORAGE STOCKS

09:31AM EDT 21-SEP-01 SOUNDVIEW TECHNOLOGY CORP. (GARY HELMIG) IBM
IBM (IBM) COMPANY UPDATE SEPTEMBER 21, 2001

07:56AM EDT 21-SEP-01 ABN AMRO INC. (CIHRA,ROBERT) AAPL CPQ DELL
DRIVING THROUGH A FOG; LOWERING PC MARKET FORECAST

08:15AM EDT 21-SEP-01 GERARD KLAUER MATTISON & CO. (BAILEY, D.) EMC
EMC--SUNW--IT SPENDING STALLS; LOWERING ESTS.

 <<9.21.01 Analyst Reports.doc>>
The analyst reports provided are reports prepared by independent
analysts who monitor and track Compaq's performance.  These reports are
not prepared by or at the direction of Compaq and as a result, Compaq is
not endorsing or verifying the information contained in these reports or
endorsing any of these analysts.   These reports are being provided
solely for business reasons and as a result, do not distribute these
reports to other individuals outside of Compaq.  If other individuals
are interested in receiving the reports provided herein, please contact
Elizabeth Davis in Compaq's Investor Relations Department at
elizabeth.davis@compaq.com.

Elizabeth Davis
Compaq - Investor Relations
Research Analyst
281-518-4289


 - 9.21.01 Analyst Reports.doc