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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (7960)	11/26/2001 9:07:42 AM
From: puborectalis	Read Replies (3) \| Respond to of 99280

Taiwan Semi boosts outlook November 26, 2001: 7:45 a.m. ET Chipmaker boosts guidance for 2001 by 55% due to increased orders. National Semi stands by estimates - Nov. 14, 2001 TSMC TAIPEI, Taiwan (Reuters) - Taiwan Semiconductor Manufacturing Co (TSMC) raised its 2001 financial forecasts Monday, two months after the world's largest contract chipmaker trimmed its estimates during the sector's worst downturn. TSMC (TSMC: Research, Estimates) raised its 2001 pretax profit forecast by 55 percent to T$9.35 billion ($271 million) from an earlier projection of T$6.04 billion ($175 million), the company said in a statement after the end of stock trading. The company expected sales to reach T$125.36 billion, just up from the previous estimate of T$121.9 billion. K.C. Chen, TSMC's senior vice president, was quoted as saying the upward revision was "the result of a substantial increase of customer orders recently." The company does not reveal details of client orders. The upbeat assessment caught analysts by surprise, and they said the revision suggested the company would pocket monthly sales of more than T$11 billion in November and December. "Viewed over TSMC's fourth-quarter sales, the third quarter is TSMC's bottom," said Joyce Hsu, a semiconductor analyst with SinoPac Securities. Click here to check other chip stocks Taiwan Semiconductor made sales of T$10.3 billion in October, marking the fourth straight on-month rise and bringing accumulated sales in the January-October period to T$103.1 billion. Morris Chang, chairman of TSMC, has said sales in the fourth quarter will rise 15 percent from the third quarter. TSMC's Taiwan-listed shares rose 50 Taiwanese cents, or 0.7 percent, to close at T$74 Monday against a 2 percent gain in the benchmark TAIEX share index. Dutch consumer electronics giant Philips Electronics (PHG: Research, Estimates) is one of TSMC's largest shareholders. U.S.-traded shares of Taiwan Semiconductor (TSM: Research, Estimates) shed 15 cents to close at $15.70 Friday.