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Technology Stocks : WDC/Sandisk Corporation
WDC 168.90+4.9%Dec 5 9:30 AM EST
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To: Bhag Karamchandani who wrote ()12/15/1999 4:01:00 AM
From: Tumbleweed  Read Replies (1) of 60323
 
Semiconductors slammed...

(This article from within SI, may explain part of the big decline yesterday, plus of course the general tech sell off didnt help either)

The big wreckage in the today's market was in the semiconductor area. It was
precipitated by Selectron, a contract manufacturer that "made the number" even though revenues were light and the balance sheet showed signs of
deterioration, including a huge jump in inventories. Some of the semiconductor manufacturers like Xilinx also have noted that they have inventories. As a
result, people are starting to realize that if the chip makers and the contract manufacturers both have inventories, then there was, in fact, double and
triple ordering going on all along. Now everyone is not quite sure of the numbers and what happens prospectively.

As a result, the Sox was whacked for about 7 percent and there was some spillage into other technology areas. Although the ones that deserved to have
been crushed on the back of this news and other news that is coming out - i.e., PC companies and related component suppliers - really did much better
than some of the high-flying chip makers. Of course, the chip makers have been on such a rip that any amount of bad news was going to hit them
proportionately harder.
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