Advanced Micro Devices - Moderated (AMD) Message Board

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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 214.25

-3.1%

Jan 6 3:59 PM EST

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To: Mani1 who started this subject	8/2/2001 7:01:58 PM
From: AK2004	of 275872

I guess SSB is still talking of recovery but now it is a step toward recovery Salomon's Joseph Sees Chip-Industry Bottom This Month or Next 2001-08-02 16:48 (New York) Salomon's Joseph Sees Chip-Industry Bottom This Month or Next San Francisco, Aug. 2 (Bloomberg) -- Semiconductor sales could hit bottom this month or next, and makers of computers and wireless gear have already worked through much of the extra inventory that hurt chip sales this year, Salomon Smith Barney analyst Jonathan Joseph said. Worldwide semiconductor sales fell 31 percent in June from a year earlier, the Semiconductor Industry Association said today. That's the biggest drop in the industry's history, Joseph wrote in a note to clients this morning. ``We still have a couple months of downturn to go, and we're already at a record,'' Joseph said in an interview with Bloomberg Television. ``That shows we're going further and deeper than we've ever been before.'' Sales fell to $11.6 billion from $16.7 billion in June 2000 and declined 8.8 percent from May's $12.7 billion, according to the SIA. The drop was steeper than a previous record 26 percent decline in October 1985, Joseph said. Chipmakers from Intel Corp. to Texas Instruments Inc. have been hurt this year as orders for chips powering mobile phones and computers slump and prices fall. Joseph said he's seeing evidence that computer and wireless-equipment makers have largely worked down their stockpiles of chips. ``That's step No. 1 to a recovery,'' he said.

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