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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (2216)	8/9/2002 12:05:35 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

11:02AM Intel may reduce capex in 2003, re-evaluate manufacturing (INTC) 18.03 -0.35: Sources are telling us that Banc of America believes INTC's 2003 capex could be as low as $4.0 bln (co did not provide capex guidance for 2003 on their July 16 conference call); analyst believes reducing capex to that degree would surprise most analysts, who may be expecting flat-to-slightly up spending from 2002's $5.0-$5.3 bln. Further, firm believes that INTC is re-evaluating its manufacturing strategy and will increasingly emphasize outsourcing front-end services (ATMI and ASML may take over some lithography services), as current capex and depreciation levels are well above historical trends.