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Technology Stocks : Alliance Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: DJBEINO who wrote (9451)	8/23/2001 2:24:28 AM
From: DJBEINO	Read Replies (1) \| Respond to of 9582

UMC (2303)closed @38.40 + 0.40 vol 42,333,982 +++++++++ August 21 net purchase 4,030,000 shares +++++++ TAIWAN WEIGHTED closed @ 4459.76 -27.76 (-0.62%) Day's Range :4435.97 - 4506.92 +++++++++++ AMD is seeking a partner for the building of a 12" fab and UMC (2303 TT) is interested in the project, according to the “Commercial Times.” Currently, AMD is a major customer of both TSMC (2330 TT) and UMC. In our opinion, TSMC has a stronger incentive to work with AMD and strengthen customer relationship than UMC because UMC has already formed two JVs with Hitachi and Infineon to operate 12" fabs. Furthermore, it is doubtful if UMC will really compete seriously to become a partner in this project, given limited resources, much of which is already committed to its JVs with Hitachi and Infineon. However, JVs with customers are not necessarily good for IC foundries; TSMC and Altera, for example, formed a JV with Wafertech, resulting in a big loss for TSMC. Our opinion on the news is NEUTRAL.