Here is another "take" on the same issue.
quote.bloomberg.com
<<Japan's Semiconductor Stocks Slide as Tokyo Electron Leads Drop
June 14 (Bloomberg) -- Japanese semiconductor-related stocks declined, led by Tokyo Electron Ltd. and Advantest Corp., after UBS AG joined Deutsche Bank AG in telling investors to trim their holdings of chip-related shares.
``Right now, everyone seems a bit concerned that chip-related demand is going to slow in the next few quarters, and that worry is being reflected in the shares,'' said Hiroshi Uchida, who helps manage the equivalent of $17 billion at UFJ Partners Asset Management Co. in Tokyo. He holds fewer shares of technology stocks than represented in the Topix index.
[snip]
Chip Demand
Tokyo Electron, the world's No. 2 maker of chip-production equipment, fell 150 yen, or 2.5 percent, to 5,930. Advantest, the world's biggest maker of equipment used to test memory chips, shed 50 yen, or 0.7 percent, to 7,160.
Russ Mould, an analyst at UBS lowered his rating on the global chip industry to ``neutral'' from ``overweight,'' saying ``further upside momentum in end-demand looks to be required.'' He forecast lower demand for chips as economic growth slows.
Last week, Deutsche Bank analyst Fumiaki Sato said he expects demand for chips and liquid-crystal displays to slow in the second half of the year, causing a buildup in inventories.>>
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