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

07:24AM EDT 31-MAY-01 ABN AMRO INC. (CIHRA,ROBERT) CPQ DELL GTW
COMPAQ COMPUTER: LOWERING ESTIMATES

04:21PM EDT 30-MAY-01 BEAR STEARNS (J. NEFF/BOBBA/HAND) IBM HWP
EMC: LOWERING ESTIMATES; MAINTAIN ATTRACTIVE

06:38AM EDT 31-MAY-01 PRUDENTIAL SECURITIES (H.MOSESMANN) INTC AMD
INTC:  UPDATE FROM TAIWAN.  QUARTER TRACKING TOWARD LOWER END OF GUIDANCE

02:39PM EDT 30-MAY-01 UBS WARBURG (US) (YOUNG, DON) GTW AAPL CP
GTW: PRICE WAR - COOL !

11:45AM EDT 30-MAY-01 LEHMAN BROTHERS (ELLING, GEORGE) SUNW EMC HW
SUN MICROSYSTEMS: 4Q01 GUIDANCE LOWERED; EUROPE WEAK

08:59AM EDT 31-MAY-01 J.P. MORGAN (WALTER J. WINNITZKI) TECD CPQ DELL IM
DZTK
TECD: Q1 SOLID, BUT GUIDANCE REDUCED DUE TO INDUSTRY CONDITIONS

 <<5.31.01 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.

Leslie K. Moore
Compaq Computer Corporation
Investor Relations - Financial Analyst
Phone:  281-927-8287
Fax: 281-514-4865



 - 5.31.01 Analyst Reports.doc