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Technology Stocks : Semi Equipment Analysis

SOXX 291.39

+2.8%

Nov 26 4:00 PM EST

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To: StanX Long who wrote (10700)	7/24/2003 6:23:43 PM
From: Return to Sender	Read Replies (1) of 95480

Semiconductor Equipment . . . Taiwan Semiconductor reported a better-than-expected 26 percent jump in net profits in the second quarter as it posted its best quarterly earnings in over two years on rising demand for its made-to-order chips. "Second quarter results of NT$11.7 billion in net income marks TSMC's highest net income since the industry's recession in 2001." said CFO Harvey Chang. "For two consecutive fiscal quarters TSMC has gained solid improvements in its operating results. We expect the performance of the coming quarter will be at least in line with that of the second quarter." Lam Research upgraded at RBC to Outperform from Sector Perform following in-line results. The firm continues to believe that managementt is executing well in its ongoing strategy to outsource manufacturing and certain administrative functions, and that over the course of the next few quarters the co will have made significant improvements in operating leverage compared to the last industry cycle. Target is $25. Kulicke & Soffa reported a fiscal third quarter net loss of $11.4 million, or 23 cents a share, versus a loss of 37 cents a share in the same period a year ago. Revenue fell 3.5 percent to $127.7 million. Analysts had been expecting a loss of 22 cents a share and revenue of $126.9 million. The semiconductor equipment maker said cost reduction efforts, while resulting in positive long-term improvements, affected short-term results. Ultratech reported net income of $2 million, or 9 cents per share, compared to a loss of $1.7 million, or 7 cents per share in the year-ago period. Net sales were $24.8 million, compared to $20.7 million last year. A survey of analysts forecasted a loss of a penny per share and revenue of $23.29 million. The chip equipment maker said it's "poised to surpass its first-half fiscal success" amid increased demand for its products. Semiconductors . . . LSI Logic upgraded at Wachovia to Outperform from Market Perform, citing valuation as well as solid execution on cost savings; sees valuation range at $7-$14. RobBlack.com MarketWrap robblack.com

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