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Technology Stocks : Applied Materials No-Politics Thread (AMAT)
AMAT 256.89-1.2%Dec 31 3:59 PM EST
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To: Big Bucks who wrote (6998)8/28/2003 2:41:17 PM
From: Proud_Infidel  Read Replies (1) of 25522
 
Taiwan Semiconductor Sees Communications Driving 3Q Sales
Thursday August 28, 2:35 pm ET
By Donna Fuscaldo, Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Taiwan Semiconductor Manufacturing Co. expects sales in its current third quarter to be driven by communications chips, particularly from the wireless market, Charles Byers, director of worldwide brand management, said Thursday.

While computing drove revenue in its second quarter, Byers said sales in that segment appear to be a "bit flat."

During an interview with Dow Jones Newswires, Byers said the Taiwan foundry's business is "tracking well" and the company sees no reason to move away from its financial projections which calls for single-digit sales growth quarter over quarter. As for capital expenditures, he said the company will spend $1.25 billion this year and likely the same amount in 2004.

Byers noted that the company expects industrywide growth of 7% to 8% this year and compounded annual growth of about 10%.

While the executive said Taiwan Semiconductor is having difficulty predicting what will drive sales in its fourth quarter, he did note that overall business is improving, although a quick upturn isn't likely to happen.
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