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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58386)	1/4/2002 2:20:19 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

01/03 22:59 Toshiba, Other Chipmakers Surge After Intel Buy Recommendation By Minoru Matsutani quote.bloomberg.com Tokyo, Jan. 4 (Bloomberg) -- Toshiba Corp. and other chip- related companies' shares surged after J.P. Morgan Securities Inc. yesterday advised clients to buy shares of Intel Corp. Shares of Toshiba, the second-biggest chipmaker after Intel, surged 10 percent to 502 yen, their biggest one-day gain since March 23, 2001. Shares of NEC Corp. rose 7.7 percent while Mitsubishi Electric Corp. gained 9.3 percent. Japan's stock exchanges were open for half a day because of New Year holidays. Trading for the full day will resume Jan. 7. Intel's sales for the quarter ended December may have risen compared with the previous three months, because computer makers ordered more chips, J.P. Morgan analyst Eric Chen wrote in a note to clients. Intel shares rose 7.7 percent in the U.S. yesterday. ``The bullish outlook for semiconductor companies in the U.S. is helping share prices'' of Japanese companies, said Toshiyuki Fukushima, who manages 250 billion yen ($1.9 billion) in Japanese equities at Sumisei Global Investment Trust Management Co., including computer-related shares. ``Expectations that the industry will hit the road to recovery this year are growing.'' Shares of chipmaking equipment companies also surged. Advantest Corp., the biggest maker of computer-memory-chip testers, rose 13 percent to 8,420 yen. Tokyo Electron Ltd., the second-largest chip-equipment maker after Applied Materials Inc., also increased 13 percent to 7,240. Optimism over Intel's December sales offers the latest glimmer of hope for the battered semiconductor industry.