Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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To: Sarmad Y. Hermiz who wrote (5069)	1/21/2003 8:54:52 AM
From: Proud_Infidel	Read Replies (1) of 25522

TSMC, UMC to cut 2003 capex more than 25%, says report Semiconductor Business News (01/21/03 07:58 a.m. EST) TAIPEI, Taiwan -- Taiwan Semiconductor Manufacturing Co. Ltd and United Microelectronics Corp., the two leading contract manufacturers of chips, are both set to cut their capital expenditures by more than 25% in 2003, according to a report from Taiwan. Digitimes, retelling a story it says it read in the Chinese-language Economic Daily News, said that TSMC is expected to reduce capital spending by between 27% and 39% from US$1.65 billion in 2002 to between $1.0 billion and $1.2 billion this year. The sources predicted that United Microelectronics Corporation (UMC) would cut its capex by 37.5% from $800 million in 2002 to $500 million this year. The companies are expected to announce official spending figures for 2003 at their investor conferences at the end of the month. The cuts are attributed to a stuttering chip market and lingering overcapacity in the foundries' 8-inch and 12-inch fabs. Intel, the world's largest chipmaker is also making cuts in capex, although less severe than those predicted for Taiwan (see January 14 2003 story). But at the same time Korea's Samsung Electronics Co. Ltd. seems to be keen to buy market share by a massive expansion of its manufacturing capacity. Samsung reported that it plans to spend $3.56 billion in semiconductor-only capital investment in 2003, up 90% from its $1.87 billion capex for 2002 (see January 17 2003 story).

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