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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 216.00-0.7%Dec 4 3:59 PM EST

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To: Mani1 who started this subject8/1/2000 5:10:41 PM
From: AK2004Read Replies (1) of 275872
 
Fundamentals
09:54am EDT 1-Aug-00 Gerard Klauer Mattison & Co. (Geraghty, J. 212-885-4003)
Semiconductors: Fundamentals Remain Strong
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Semiconductors
o The Semiconductor Index (SOX) broke decisively below the 1080 bottom-of-the-range that has existed since early June. It fell to 950 last week vs. the approximate 870 low that was established in May. This stock price action would assume that some serious problems are about to occur in the semiconductor industry. Yet...

o The fundamentals remain strong, in our opinion.
- The PC sector has both Intel and Advanced Micro Devices with strong order books extending into 4Q00. Under the circumstances, pricing should remain flat rather than decline and margins could continue to improve as both companies ramp volume.

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