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Politics : Formerly About Advanced Micro Devices
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To: Duncan Baird who started this subject10/12/2000 2:30:56 AM
From: tejek  Read Replies (1) of 1580690
 
Investec's Fu on Advanced Micro, Motorola Warnings: Comment


Singapore, Oct. 12 (Bloomberg) -- Adrian Fu, an investment manager who helps handle about $450 million at Investec Guinness Flight Asia Ltd. in Hong Kong, comments on Asian computer-related stocks rising after Advanced Micro Devices Inc., Intel Corp.'s main rival, posted a third-quarter profit.

He also shares his views on semiconductor stocks after Motorola Inc. said its fourth-quarter and 2001 earnings will lag forecasts as growth in semiconductor sales and cell-phone profit declines.

Advanced Micro results ``is a bright spot among the bad tech news. That's moving sentiment from the very negative side to the negative side. AMD raised their sales forecast in terms of number of units of processors they are selling and is increasing their market share from Intel. This indicates that the expectations of weaker (PC) demand may have been factored in and may not be as bad as people think.''

``At the same time, Motorola indicated that growth rate for chips may be slower and that could be tougher for some semiconductor stocks.

``It's too early to talk about fourth quarter demand. I don't know whether the recent price declines has discounted all of the bad news but I think it has certainly discounted a lot of it. Asian stocks are very cheap but with analysts downgrading it's hard to change investors' sentiment.''

U.S. computer chipmakers fell on Tuesday after analysts at Lehman Brothers Inc. and Salomon Smith Barney Inc. cut their ratings on Xilinx Inc. and Altera Corp.

Oct/11/2000 23:30 ET

For more stories from Bloomberg News, click here.

(C) Copyright 2000 Bloomberg L.P.
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