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To: AK2004 who wrote (9936)	9/22/2000 4:02:15 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 275872

More evidence of Intels problem only. No problems here, says European chipmaker Infineon By Bloomberg News September 22, 2000, 12:35 p.m. PT MUNICH, Germany--Infineon Technologies, Europe's No. 3 chipmaker, said it expects sales growth this quarter to exceed that of the semiconductor industry overall. The chipmaking arm of Siemens made the forecast a day after Intel, the world's largest computer-chip maker, warned of weak demand in Europe and lower-than-expected sales. Infineon expects to outperform the industry and turn in record profit in the fourth quarter, said chief executive Ulrich Schumacher. Quote Snapshot IFX 49.00 -0.81 INTC 48.25 -13.23 AMD 24.81 +0.88 Enter symbol: · Symbol Lookup Quotes delayed 20+ minutes "We see extremely strong growth before us," Schumacher said in an interview. "It's an absurd discussion. There's no slowdown at all." Infineon focuses on memory chips, or DRAM, for computers and other electronic devices and microprocessors for communications equipment. Intel is the world's largest producer of microprocessors that drive personal computers and other consumer electronics. It faces increasing competition from rivals such as Advanced Micro Devices. "It's more of an Intel problem, with AMD catching up," said Boris Boehm, a fund manager who helps manage $7.76 billion (9 billion euros) of equities at Nordinvest in Hamburg. Infineon said it is building new DRAM factories in Dresden, Germany, Taiwan and the United States. The company said it is the only one boosting DRAM capacity. Its main competitors include STMicroelectronics, Hyundai and Samsung. "As far as I know, the rate of growth is predicted to be 25 percent for the semiconductor industry next year," Schumacher said. "Infineon will exceed that." STMicroelectronics and Royal Philips Electronics, Europe's biggest semiconductor makers, have both said they expect market growth of 30 percent next year and that they expect to beat that. San Jose, Calif.-based SIA predicted market growth will slow to 25 percent in 2001 and 14 percent in 2002. Still, some analysts are skeptical as to the ability of chipmakers to forecast growth accurately. Ashok Kumar, an analyst at U.S. Bancorp Piper Jaffray, recommends Infineon's comments "be taken with a bucket of salt." Jaffray predicted a PC slowdown two weeks ago.