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Strategies & Market Trends : Love shack

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To: D. Miller who wrote (133)	12/2/2000 5:34:58 PM
From: Grandk	of 322

This is a start CSFB Lowers Estimates on Chip-Sector Stocks By David A. Gaffen Staff Reporter 12/1/00 8:59 AM ET Credit Suisse First Boston has adjusted its outlook on a number of semiconductor companies this morning, reflecting the anticipation of a slowing in demand in the first half of next year. CSFB analyst Charlie Glavin lowered estimates on chip maker Intel (INTC:Nasdaq - news), citing PC pricing pressures and declining demand. He dropped his 2001 earnings estimate to $1.66 from $1.75 on revised revenue estimates of $37.6 billion, down from $39.3 billion, but maintained a buy rating. Fellow CSFB analyst John Pitzer lowered earnings estimates for several companies in the semiconductor capital equipment sector, reflecting difficulties likely to manifest in the first half of 2001. Estimates were dropped for KLA-Tencor (KLAC:Nasdaq - news), Applied Materials (AMAT:Nasdaq - news), Lam Research (LRCX:Nasdaq - news) and Novellus (NVLS:Nasdaq - news). "The trough revenue quarter will probably occur in the June/July timeframe; that peak to trough revenue decline should be 15-20%," Pitzer wrote this morning.

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