Please open the attached file to read the complete text of the following
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11:37AM EDT 22-SEP-00 WIT SOUNDVIEW (MARK SPECKER) INTC CPQ DELL
PC UPDATE SEPTEMBER 22, 2000

08:30AM EDT 22-SEP-00 C.E. UNTERBERG, TOWBIN (JAMES POYNER) CPQ
CPQ: INTEL`S EUROPEAN SHORTFALL CONTRARY TO COMPAQ VIEW

08:03AM EDT 22-SEP-00 SALOMON SMITH BARNEY (RICHARD GARDNER) AAPL
IMPLICATIONS OF INTEL 3Q WARNING FOR PC STOCKS

09:41AM EDT 22-SEP-00 GOLDMAN SACHS (JOE MOORE) INTC INTC.GWI INTC.N
INTC PREANNOUNCEMENT: THOUGHTS REGARDING IMPACT ON OTHER STOCKS

00:16AM EDT 22-SEP-00 MORGAN STANLEY\DW (MUNSON, GILLIAN) CPQ
TECHNOLOGY: SOME ANSWERS TO THE CURRENCY JITTERS FOR PCS

 <<09.22.00 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





 - 09.22.00 Analyst Reports.doc