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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (668)	12/11/2001 9:07:36 AM
From: Ian@SI	Respond to of 25522

SSSB Bullish On Semiconductors, Sees Fast Recovery 08:48 GMT-05:00 Tuesday, December 11, 2001 BERLIN -(Dow Jones)- Schroder Salomon Smith Barney is bullish on the semiconductor sector and expects the market to recover faster than expected, the bank said in a report released Tuesday. "Our belief is that the semiconductor recovery could be faster than expected because inventory levels are low," the bank said. Schroder predicts 4.0% growth in the market next year. This is more robust than other forecasts which see a flat market next year. The bank sees robust growth returning in 2003, forecasting a rise of more than 20%. But Schroder concedes that financial analysts have a poor track record forecasting the market and "the odds are that we are going to get it wrong again." The semiconductor industry has been suffering from the worst decline in its history, but initial signs of a recovery has led to strong surges in share prices. Because of these surges, there is some short-term profit-taking risk, but "the semiconductor sector will continue outperforming the equity market, as evidence that the industry is on a path to recovery continues to emerge," the bank said.

To: Proud_Infidel who wrote (668)	12/11/2001 2:59:08 PM
From: Ian@SI	Read Replies (1) \| Respond to of 25522

Two new sentences in this FOMC statement. First one is so weasel worded as to be nearly meaningless. Second new sentence is the most positive statement that I've seen from the FOMC this year. +++++++++ Release Date: December 11, 2001 For immediate release The Federal Open Market Committee decided today to lower its target for the federal funds rate by 25 basis points to 1-3/4 percent. In a related action, the Board of Governors approved a 25 basis point reduction in the discount rate to 1-1/4 percent. Economic activity remains soft, with underlying inflation likely to edge lower from relatively modest levels. To be sure, weakness in demand shows signs of abating, but those signs are preliminary and tentative. The Committee continues to believe that, against the background of its long-run goals of price stability and sustainable economic growth and of the information currently available, the risks are weighted mainly toward conditions that may generate economic weakness in the foreseeable future. Although the necessary reallocation of resources to enhance security may restrain advances in productivity for a time, the long-term prospects for productivity growth and the economy remain favorable and should become evident once the unusual forces restraining demand abate. In taking the discount rate action, the Federal Reserve Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Chicago and San Francisco.