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

To: StanX Long who wrote (62403)	3/28/2002 12:25:57 AM
From: StanX Long	Respond to of 70976

ST Assembly Sales May Reach $1 Bln If Demand Rebounds (Update1) By Linus Chua 03/27 20:50 quote.bloomberg.com Singapore, March 28 (Bloomberg) -- ST Assembly Test Services Ltd., Asia's second-largest chip tester, said sales may surge sevenfold to $1 billion when demand for semiconductors recovers to its next peak. The mixed-signal chips the company tests enable high-speed Internet access in mobile phones and hand-held computers, a service which will see rising demand, Chief Executive Officer Harry Davoody said in an interview. He declined to say when demand will rebound from last year's trough to reach a peak. Davoody, who moved from Texas Instruments Inc. in January, stuck to a forecast made two months ago that first-quarter sales will gain as much as 5 percent from the previous quarter. Some investors are buying on those recovery prospects, boosting the company's shares by 40 percent this year. ``The recovery of ST Assembly has been earlier than expected -- the outlook has improved,'' said Kam Yoke Meng, senior fund manager at OCBC Asset Management Ltd., which manages S$3.5 billion ($1.9 billion) including ST Assembly shares.