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

To: Bob Kim who wrote (2611)	8/23/2002 1:16:31 PM
From: Proud_Infidel	Respond to of 25522

Taiwan DRAM makers cut sales forecasts By Faith Hung EBN (08/23/02 10:17 a.m. EST) HSINCHU, Taiwan -- ProMos Technologies Inc. and Mosel Vitelic Inc. have lowered their 2002 sales forecasts as the badly beaten memory chip market shows no sign of recovery. Mosel cut its sales target by 39% to $365.9 million, while widening its loss projection to $172.6 million from a figure of $60.5 million set earlier. ProMos, a joint venture between Mosel and Infineon Technologies A.G., also announced a 28% cut in sales estimates to $608.8 million, and a 96% plunge in its pretax income target to $5.7 million. Sluggish demand for PCs pushed down DRAM prices in the second quarter. Now, with the anticipated up-tick from the Christmas shopping season weaker than industry executives and analysts have hoped for, DRAM prices are expected to remain soft for the rest of the year, analysts said. The conservative outlook also has prompted Taiwan's Powerchip Semiconductor Corp. and Nanya Technology Corp. to slash their sales and earnings forecast for 2002.