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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Guy who wrote (19559)	7/2/2001 11:56:26 AM
From: James Calladine	Respond to of 30051

MAY SEMI SALES: <<<May Semiconductor Sales Drop 7 Percent From April NEW YORK (Reuters) - Worldwide sales of semiconductors in May sank to $12.71 billion, a decline of more than 7 percent from April, according to an industry report that reflects a lingering industry slump that has shown few signs of recovery. Chip makers have suffered this year as demand for computers, mobile telephones, and other electronics has fallen, leaving products sitting on warehouse shelves. ``Paltry'' sales in April and May led Credit Suisse First Boston analyst Charlie Glavin to cut expectations for full-year chip sales. In a note released to investors on Monday, Glavin said he expects 2001 chip revenues to fall 25 percent, compared with an earlier estimate of a 17 percent decline. ``We remain apprehensive on the sector in general,'' he said in the note. By region, the biggest May decline was in the Americas, off nearly 11 percent to $3.34 billion from $3.75 billion in April, according to the report from the San Jose, California-based Semiconductor Industry Association. Sales in Europe fell 7.8 percent to $2.83 billion. Sales in Japan fell 5.9 percent to $3.15 billion, while the Asia Pacific region -- excluding Japan -- was off 4.5 percent to $3.38 billion, the report said. Many chip companies and industry analysts had forecast a recovery in the second half of this year, but have had to alter their expectations in the face of continuing weakness. ``The sales for May reflect the current inventory overhang that the semiconductor industry has been experiencing since November,'' Semiconductor Industry Association President George Scalise said in a statement. The group's monthly figures represent a three-month moving average of sales, meant to smooth the figures for variations in company monthly financial calendars. dailynews.yahoo.com. >>> Namaste! Jim