Lam Research (LRCX, NASDAQ): To the Insiders Message Board

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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders

LRCX 155.79

-3.4%

Nov 4 3:59 PM EST

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From: etchmeister	7/10/2008 4:43:17 PM
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TEL's quarterly orders down 35 percent Reuters EE Times (07/10/2008 4:24 AM EDT) TOKYO, July 10 -- Japan's Tokyo Electron Ltd. said orders for its tools to make semiconductors and flat panel display equipment fell a quarterly 35 percent to a five-year low in April-June on weak demand from memory makers. But the world's No.2 chip equipment maker expects orders to pick up in the current quarter as makers of computer memory chips spend more on production lines to meet year-end demand for faster computers and mobile phones. (hard to believe orders placed July through September could produce out put to meet year-end demand; IMHO the key is not adding capacity rather spending capex on retooling for copper) Chip and display gear orders totalled 104 billion yen ($974 million), according to a preliminary tally on Thursday by the firm, which trails Applied Materials Inc and supplies equipment to South Korea's Samsung Electronics Co Ltd Memory chip prices have plummeted in the past year amid excess capacity, fueling competition among equipment makers over chip makers' shrinking spending on new equipment. Applied Materials plans a $60 million to $70 million plant in Singapore to boost manufacturing in Asia, home to chip makers such as Samsung, Toshiba Corp and Hynix Semiconductor Inc and a growing solar power market. Breaking down the April-June figure, orders for tools used to make semiconductors fell 27 percent to 72 billion yen, amid slumping prices of NAND flash memory, used in digital cameras, memory sticks and Apple Inc's iPod. The value of orders would likely grow about 30 percent to 40 percent in July-September, as makers of dynamic random access memory spend more, Tokyo Electron said. Orders for gear used to make flat panels fell 48 percent to 32 billion yen following ramp ups by major panel makers at the end of 2007 and the beginning of 2008. Orders for such gear could fall in July-September by as much as two-thirds to a little over 10 billion yen, the company said. (as usual it's hard to me to follow Fitz; obviously AMAT does have exposure to FPD; looks like silicon business will outperform FPD by a large margin) Tokyo Electron's orders are typically reflected in sales three to six months ahead and are a key indicator of future earnings performance. Shares of Tokyo Electron ended down 1.7 percent at 5,700 yen against a 0.1 percent rise in the benchmark Nikkei average ($1=106.78 yen) (Reporting by Mayumi Negishi; Editing by Brent Kininmont)

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