I need a replacement for the above mentioned saw.  I need a Stihl since that is what I'm replacing.   What is an equivalent model in production today?  Thank you for your help

MS381? I think. I bought a MS291 and I'm not really happy with it. Oiler is really low and it seems like the chain gets to hot. Good luck!

https://www.stihlusa.com/products/chain-saws/professional-saws/ms362cm/

eta
ps

in the "old" Stihl numbering scheme, if the last digit is EVEN it's a pro saw with jug-on-cases engine construction:
024, 026, 036, 038, 046, etc

in the "old" Stihl numbering scheme, if the last digit is ODD it's an "occasional use" saw with clamshell engine construction:
021, 023, 025, 029, 031, etc

in the "new" Stihl numbering scheme, if the middle digit is EVEN it's a pro saw with jug-on-cases engine construction:
MS240, MS260, MS360, MS460, etc

in the "new" Stihl numbering scheme, if the middle digit is ODD it's an "occasional use" saw with clamshell engine construction:
MS210, MS230, MS250, MS290, MS310, etc

basically, old 025 = new MS250, old 026 = new MS260, and so on.

AND

in the new scheme, the last digit is the "iteration/version" of the saw.

for example
MS360 first version
MS361 second version
MS362 third version (current production)

some letters after the model designation indicate a specific feature on that version

for example
MS362CM has (M) STIHL M-Tronic system

please don't ask me to explain the Stihl numbering scheme further.

ar-jedi

Jedi & Sparky,  

Thank you for the replies and to ar-Jedi for explaining the numbering system!  That is very helpful and now I'm going to check out the Stihl website with a little better grasp at what I'm looking at.

If you want to stick with a pro-saw you won't find an exact replacement for your 038 mag. You will have to choose from the 362 or 441 unless you're buying used.

Just curious, what's wrong with the 038?

I know you said Stihl, but you do limit your options by not considering other brands. Take it for what it's worth coming from a die-hard Stihl fan, other makes can be just as good and/or can be had at better bang for the buck.