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: Lizzie Tudor who wrote (6262)	6/11/2003 7:12:04 AM
From: Fred Levine	Read Replies (1) of 25522

Dow Jones Business News Intel CFO Says Microprocessor Capacity Matching Demand Tuesday June 10, 10:27 am ET By Donna Fuscaldo, Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Intel Corp. Chief Financial Officer Andy Bryant said Tuesday that capacity in its microprocessor and chipset business is currently matching demand. Its flash memory chip business, however, is suffering from excess capacity that was caused by a pricing "stumble" in the beginning of the year, Bryant said at the Bear Stearns 14th Annual Technology Conference in New York. Last quarter, Intel took a charge to reflect the excess flash capacity the company had on its books. Intel had wrongly predicted that demand for flash memory chips, which are used in everything from MP3 players to digital cameras, would increase and as a result, the company raised its prices. The pricing move prompted customers to turn to other cheaper sources for their flash chips, resulting in excess capacity at Intel. Bryant said if Intel can't recover the market-share losses in flash memory, the company will have to deal with the excess capacity. As for the entrance of Samsung Electronics Co. into the flash memory business, Bryant acknowledged it will make it a "much tougher" market to compete in. Still, the financial chief said it won't deter Intel's strategy in that industry. fred

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