Goldman Sachs is cutting its 2001 estimates for several software companies, including Microsoft (MSFT) , Oracle (ORCL) and Ariba (ARBA) , citing the threat of "an increasingly difficult economic environment, or a recession."
"We continue to believe that the software companies on our Recommended List are among the best-positioned companies in the software space," the firm wrote in a research note. "However, it would be naive of us to believe that these companies can get through an increasingly difficult economic environment, or a recession, without being in at least some way negatively impacted."
Goldman said its near-term estimate changes weren't "particularly large," but indicated that the revisions will largely point to a possible slowdown in the last three quarters of 2001.
The firm's report also referenced