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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 203.14

-0.8%

Jan 9 3:59 PM EST

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To: niceguy767 who wrote (46120)	7/5/2001 12:44:23 PM
From: Gopher Broke	Read Replies (2) of 275872

Lehman Says Chip Equipment Outlays May Have Worst Decline in 20 Years By TSC Staff Lehman Brothers said its worldwide semiconductor equipment budget survey suggests a 26% decline in 2001, following an 88% increase last year. The firm expects actual spending to fall 30% or more in 2001, a forecast that, if correct, would represent the worst year-over-year decline in 20 years. During Lehman's March survey, chip companies indicated that spending would drop 18% year-over-year. But in the last quarter, low utilization rates at chipmakers, which was driven by excess inventory and the global economic slowdown, has slowed the investment in capacity-related equipment. The firm also said that it expects chipmakers to cut their budgets further. Separately, ABN Amro said it expects revenue in the semiconductor industry to decline more than 25% in 2001. The firm previously expected a 20% drop-off. ABN also said it continues to expect that the semiconductor industry's revenue will reach a bottom in the third quarter. Not too rosy a picture, but the third quarter bottom sounds encouraging.

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