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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (1404)	12/12/2001 5:33:33 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95391

From Briefing.com: The vast majority of the session thereafter was spent vacillating within recent trading ranges at modestly lower levels. The key for the day was the ability of the market averages and various sector indices to not extend the losses significantly following the morning reversal. This stabilization (SOX (+1.7%) index held near its 200 day simple ma for the fourth session in a row) emboldened market participants in late trading with the market edging in the black just prior to the close. 4:34PM Microchip (MCHP) 40.33 +0.77: Company reaffirms Q3 guidance; expects earnings of $0.17 per share versus the current consensus estimate of $0.17 per share; expects Q3 revenues of "approximately $142 mln" versus the current consensus estimate of $141.9 mln. 3:21PM Applied Materials (AMAT) 43.76 -0.18 (-0.4%): -- Update -- Sources at Prudential are telling us that checks show AMAT could have a 2nd round of layoffs, numbering perhaps 2000-2500, beginning today; firm sees this as a positive as it could provide leverage for the co as the cycle turns and could lower their breakeven level (currently at about $1.1 bln in quarterly sales). 1:32PM Prudential on Semi Equipment : Prudential positive on semi equipment group; channel checks indicate that TSM is upgrading its Fab 4 to 0.18/0.15/0.13 micron (currently 0.25 micron), and that orders of $350-$500 mln could be seen in Dec/Jan. Also, the construction freeze at Fab 14 has been lifted, which could indicate a nascent trend of upward revisions in TSM's 2002 capex plans. Firm sees primary beneficiaries as AMAT, KLAC, NVLS, LRCX, RTEC. 1:09PM CSFB on Flash Chips : CSFB believes that data storage requirements are likely to lead to a shortage in the high-density flash mkt in mid-2003, with tightening supply becoming evident in late 2002. Firm estimates that data storage bit demand will more than triple that of code-storage mkt in 2003, driven primarily by requirements from 2.5G and 3G cell handsets. Briefing.com notes that one possible beneficiary could be SNDK, which has a sizable high-density flash biz. 1:09PM Transmeta (TMTA) 2.74 +0.04 (+1.7%): Co slashes Q4 rev outlook to approx $1 mln (consensus $5 mln). "Although our unit shipments of TM5500 and TM5800 products increased during the month of November, we fell substantially short of our production goals." 12:45AM Flextronics (FLEX) 26.72 -0.90 (-3.3%): CSFB would be a buyer of any weakness in the stock caused by Dow Jones article indicating that MSFT is looking for another X-box manufacturer. Firm views MSFT's choice as a way to diversify its risk; a common practice of OEMs to have multiple suppliers. CSFB reiterates Buy rating. 12:28AM Jabil Circuit (JBL) 29.65 -1.06 (-3.5%): Reuters reports that CFO Chris Lewis expects NovQ rev to be at the low end of the $900-$950 mln range (consensus $921.6 mln) and EPS at the mid to low end of $0.11-$0.13 (consensus $0.11). Comments made at the Raymond James Technology Conference. 11:38AM Semiconductor Watch: Semiconductor : -- Technical -- Sector is currently trading towards its session lows with the Philadelphia Semiconductor Index or SOX approaching its 200-day simple moving average. Currently trading at 563, the index has already survived one test of its 200-day moving average at 559 at this point in the session. On a break lower, the index has little in the way of support until an area of congestion around 540/542. The intraday outlook would improve on a move above 569. 11:30AM Alpha Ind (AHAA) 22.04 -1.51 (-6.4%): According to trading floor sources at CIBC, firm believes that AHAA's Dec and Mar qtrs are on track, despite speculation that MOT handset sell-through is weak; thinks MOT handset sales may come in at low end of expectations but AHAA continues to have strong demand and there has been no change in customer forecasts or order rates; firm recommends aggressively buying shares at these levels. finance.yahoo.com