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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (48272)	10/24/2001 2:32:46 PM
From: stockman_scott	Respond to of 54805

Tech Stock Analysis Updated: 24-Oct-01 General Commentary Chip and chip equipment stocks drifted for most of the session, as reflected by the slight 4 point loss in the Philadelphia Semiconductor, or SOX, index... Sector's behavior over past several days has been a little strange to us, as we can't understand the excitement over the capex reductions projected for next year... Monday saw the group, especially the chip equipment companies like Applied Materials (AMAT), KLA-Tencor (KLAC), Novellus (NVLS) and Teradyne (TER), post sizable gains (7% or more) in response to rumor that Intel (INTC) would cut its capex spending by between 10% to 20% v. 30% feared by many... Though Intel later denied the report, investors now seem to expect more modest cuts in spending... A Reuters report Tuesday, however, noted that research firm IC Insights projecting a 25% reduction in capital spending in FY02, with Intel posting the biggest drop - 40%. Briefing.com doesn't know whether spending will be reduced by 20%, 30% or 40%... One reason for that is that the chip companies themselves have little idea how good/bad business will be next year, as most are opting not to provide guidance beyond Q4... Global economic conditions are simply too fluid for accurate forecasting. What we do know, however, is that economic conditions are soft and show no signs of recovering in the immediate future... We also know that (in general) sales and earnings growth continues to decelerate... With layoffs mounting, the economy faltering and consumers buckling it seems imprudent to make an investment which requires the best-case scenario in order to pay-off. Consequently, we look for the recent advance in the chip sector to short-circuit in the days and weeks to come... Considering the Nasdaq often follows the SOX, that's bad news for the rest of the tech sector as well. -- Robert Walberg, Briefing.com ___________________________________ uf: Congratulations on your daughter's performance review...The wisest companies are finding ways to motivate, reward AND retain their top talent...=)

To: Uncle Frank who wrote (48272)	10/26/2001 5:20:58 PM
From: straight life	Read Replies (1) \| Respond to of 54805

OT "...We hear a lot about layoffs these days, but Corporate America is still alive and kicking, and scrambling to secure a bright future. And they're still investing in their top performers. uf@longtermproudparent.com" Sincere congrats. I've just come back from a couple days in Conn., on a roof, hammer in hand. Filled a dumpster with old shingles and slats all by myself, at age 51. $10 an hour. And so tired I left my suitcase on the train back. Many lessons here. One of which is-- weather in Conn. in October is glorious! The rest I'll figure out by and by.