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

To: Return to Sender who wrote (62451)	3/28/2002 3:39:08 PM
From: advocatedevil	Read Replies (2) \| Respond to of 70976

RE: "I would expect another round of upgrades and higher price targets because of the higher TSM capex for the semi equips." I'm thinkin' that some of the TSM "news" may already be priced in: 8:39AM Taiwan Semi ups capex to $2.6B from $1.65B (TSM) 19.84: Taiwan Semi officially increased its 2002 capital spending plan to $2.5-2.6 bln from $2.2 bln in 2001 and previous guidance of $1.6-1.7 bln. That TSM increased capex guidance is no surprise; Merrill upgraded the stock yesterday prior to this increase and Bear Stearns had speculated almost two weeks ago that both TSM and UMC would up capex plans. The magnitude of the increase was a bit better than expected, however, as Bear had expected the increases to lift its Asia ex-Japan capex estimate to +9% for 2002, but has now gone to +14% on the TSM news, according to the firm's Ripple Effect. AdvocateDevil