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Updated from 9:17 a.m. EDT

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was down 2.7% in midminring after negative comments from Robertson Stephens.

Robertson Stephens said it expects EMC shares to face significant margin pressure in the near term and suggested the stock could fall as much as 33%, cutting its price target to $9. Thursday's close was $13.34.

Robertson Stephens also cut third-quarter earnings estimates to a loss of 11 cents a share from a loss of 6 cents, fiscal year 2001 estimates to earnings of 6 cents a share from 17 cents, and 2002 estimates to a loss of 10 cents a share from earnings of 24 cents.