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To: Elwood P. Dowd who wrote (1592)	8/3/2002 1:26:10 PM
From: w0z	Respond to of 4345

Where do they find these reporters that cannot read? The SIA report actually stated: Chip Sales Grow 5.8% in June Quarter semichips.org -- Strong Wireless and Consumer Sectors Lead June Sales -- SAN JOSE, Calif. – August 2, 2002– SAN JOSE, Calif. – August 2, 2002 – Quarterly sales increased 5.8% to $11.35 billion in the June quarter from $10.73 in the March quarter, the Semiconductor Industry Association reported today. “The semiconductor industry is continuing the recovery that started late last year and we are encouraged by the progress we have made pulling out of the 2001 downturn,” stated SIA president, George Scalise. He added, “While computer and computer-related sector demand is lagging, wireless and consumer sectors continue to strengthen. These two leading sectors are stimulating strong sales in Flash, digital signal processors, application specific products, discretes and analog, all of which increased by double digits rates in the June quarter.” This month, strong growth in the digital consumer sector led the sales increase in Japan, while the Asia/Pacific markets continue to benefit from outsourcing for board level and box manufacturing, which is especially strong in China. Sales in the Americas were impacted by the slowness of the recovery in the PC markets, while the shake out and restructuring of the telecom markets, in addition to a slow PC market has inevitability had a short term effect on revenues in Europe. In June, the SIA released its mid-year market forecast providing an overview of an industry-wide recovery that is currently under way. Sales in 2002 are still expected to result in approximately 3% growth from 2001, and the SIA continues to expect the growth rate to accelerate to 23.2 percent in 2003 and 20.9 percent in 2004 with wireless and digital consumer products leading the growth of sales. The SIA’s Global Sales Report (GSR) is a three-month moving average of sales activity. The GSR is tabulated by the World Semiconductor Trade Statistics (WSTS) organization, which represents approximately 66 companies. The moving average is a mathematical smoothing technique that mitigates variations due to companies’ monthly financial calendars. ...from this, the reporter wrote: "Also, chip sales in the second quarter rose 5.8 percent from the first quarter, due to an uptick in orders from computer makers."