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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Junkyardawg who wrote (58046)	11/1/2000 9:46:55 AM
From: AugustWest	Read Replies (1) \| Respond to of 63513

RESEARCH ALERT-Semiconductor firms downgraded NEW YORK, Nov 1 (Reuters) - Morgan Stanley cut its ratings on Wednesday for four major semiconductor companies because of low capital spending growth in the chip industry. It downgraded KLA-Tencor <KLAC.O>, Applied Materials <AMAT.O>, Lam Research <LRCX.O> and Advanced Energy Industries <AEIS.O> to Outperform from strong buy ratings. "Over the next several quarters, we will likely lower numbers on most of the companies we cover," Morgan Stanley said in a research note. It said it was lowering its 2000 global semiconductor capital spending growth rate forecast to 10-15 percent, down from 30 percent plus. "Due to end market weakness in PCs and low expectations for telecom equipment spending growth in 2001, combined with concerns over macro-economic growth patterns, chipmakers are becoming increasingly cautious regarding 2001 capital spending plans," the note said. "Chip industry and macro-economic growth should begin to re-accelerate in 3Q01. Equipment stocks should start to sense it sooner." ((New York Equities Desk 212-859-1700)) (REUTERS) RESEARCH ALERT-Semiconductor firms downgraded RESEARCH ALERT-Semiconductor firms downgraded NEW YORK, Nov 1 (Reuters) - Morgan Stanley cut its ratings on Wednesday for four major semiconductor companies because of low capital spending growth in the chip industry. It downgraded KLA-Tencor <KLAC.O>, Applied Materials <AMAT.O>, Lam Research <LRCX.O> and Advanced Energy Industries <AEIS.O> to Outperform from strong buy ratings. "Over the next several quarters, we will likely lower numbers on most of the companies we cover," Morgan Stanley said in a research note. It said it was lowering its 2000 global semiconductor capital spending growth rate forecast to 10-15 percent, down from 30 percent plus. "Due to end market weakness in PCs and low expectations for telecom equipment spending growth in 2001, combined with concerns over macro-economic growth patterns, chipmakers are becoming increasingly cautious regarding 2001 capital spending plans," the note said. "Chip industry and macro-economic growth should begin to re-accelerate in 3Q01. Equipment stocks should start to sense it sooner." ((New York Equities Desk 212-859-1700)) REUTERS * end of story * * end of story *