Applied Materials No-Politics Thread (AMAT) Message Board

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

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Dec 17 3:59 PM EST

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To: Proud_Infidel who wrote (6058)	5/8/2003 9:27:53 AM
From: Proud_Infidel	Read Replies (2) of 25522

UPDATE - Strong TSMC sales streak on track in April Thursday May 8, 5:21 am ET (Adds analyst comments) TAIPEI, May 8 (Reuters) - TSMC (NYSE:TSM - News), the world's largest contract microchip maker, said on Thursday its April sales grew 14.2 percent from a year earlier, underpinning surprisingly strong forecasts it offered for the second quarter last week. "Consumer demand continues to grow. The company's sales revenues for April 2003 increased as a result of increased wafer shipment and better product mix," TSMC's Chief Financial Officer Harvey Chang said in a statement. Taiwan Semiconductor Manufacturing Co (TSMC) said April sales reached T$15.26 billion, up from T$13.37 billion in the same month last year and a 10.2 percent gain from March. Analysts said the figure was in line with market expectations elevated after last week's forecasts. Nomura analyst Rick Hsu said TSMC's clients -- firms like graphics chip designer Nvidia Corp (NasdaqNM:NVDA - News) and networking chip firm Broadcom Corp (NasdaqNM:BRCM - News) -- were busy building inventories of new products, while old products were selling better than expected. End-products with these chips will ship to customers by June or July, Hsu said. "Summer sales will be an important factor if growth is going to continue." TSMC surprised investors last week by saying second-quarter shipments and product prices would grow, leading to an estimated 25 percent rise in revenues from T$39.33 billion in the first quarter. TSMC, which is nearly 30 percent owned by the Netherlands' Philips Electronics NV (Amsterdam:PHG.AS - News), announced April sales after the close of Taiwan trade on Thursday. Its shares fell 2.1 percent to T$46.70, while the TAIEX (Taiwan:^TWII - News) share index lost 1.98 percent. (US$1 = T$34.7)

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