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Politics : Formerly About Advanced Micro Devices
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To: eplace who wrote (119190)7/5/2000 9:48:43 AM
From: Scot  Read Replies (1) of 1577586
 
Here's a little from briefing on the sox downgrades:

Semiconductor Downgrades Chip stocks are expected to be weak this morning after Salomon Smith Barney downgraded a number of them this morning in its morning call as it sees the first signs of a slowdown. The analyst downgraded the semiconductor sector to Neutral from Outperform. The analyst expects decelerating unit shipments coupled with increased capital expenditure spending to increase capacity to weigh on the sector with a potential excess capacity situation in 6-9 months. Also not helping is new data that showing softness on lead times. The impact on earnings are not expected to be seen this year, but 2001 should see some weakening. The analyst avoided reducing estimates for the near term as the June and September quarters are expected to be strong. The analyst sees some softening for chips that go into cellular handsets due to a slight decrease in demand while PC demand is expected to remain strong. The downgraded companies are Advanced Micro Devices (AMD 84 1/4), National Semiconductor (NSM 58 1/8), Texas Instruments (TXN 69) and Silicon Storage Technology (SSTI 99). The chip sector has been holding up very well of late as the overall market has been moving sideways. With a major analyst making a call like this seeing the first signs of weakening 6-9 months out is not good as follow-on downgrades could be forthcoming. The whole sector should be weak today as a result, but also expect chip equipment makers to be weak in sympathy with the chip stocks. -- Robert J. Reid, Briefing.com

-Scot
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