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Technology Stocks : LSI Corporation

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To: who started this subject	8/23/2002 11:15:11 AM
From: uu	of 25814

And one last Analyst case study: Goldman Sachs - Fundamental weakness notwithstanding, we think it is too late to be underweight semi-equipment as we believe valuations, seasonality and improved funds flow will continue to move stocks off of their lows. 8:10AM Taiwan Semi intends to cancel "significant" orders -Goldman Sachs (TSM) 9.18: Goldman Sachs says that recent channel checks lead them to believe that TSM intends to cancel significant orders that had previously been placed with their equipment suppliers; says possible cancellations seem to be focused on 300mm orders, and believes that NVLS's mid-qtr update on Aug 29 is likely to reflect some incremental weakness from TSM. Separately, Merrill Lynch is cautious on TSM due to high levels of inventories and potential downside risk to orders in Q3 and Q4. Goldman is telling us on one hand to snap up the chip equipment makers, and then they tell you the largest buyer of this stuff intends to start cancelling orders. I wonder if they got a chance to unload all their stuff after their upgrade and recommendation - or perhaps they are still in the process! :)

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