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To: calgal who wrote (170741)	8/27/2002 2:29:39 AM
From: Herschel Rubin	Respond to of 176387

Intel's Barrett Says PC Demand May Not Rebound During Holidays By J.S. Dhaliwall quote.bloomberg.com 08/27 01:02 Kuala Lumpur, Aug. 27 (Bloomberg) -- Intel Corp. Chief Executive Craig Barrett said he's unsure whether the yearend holiday season will boost demand for personal computers and the semiconductors used in them. ``There is always some anticipation of a holiday season up- tick in computer sales but whether that materializes or not is a question mark,'' Barrett said in an interview with Bloomberg TV. Intel, the world's biggest computer-chip maker, will provide a revised forecast for third-quarter earnings on Sept. 5, Barrett said. The company earlier predicted third-quarter sales of $6.3 billion to $6.9 billion. Bear Stearns & Co. cut estimates on Friday for Intel's earnings in the third quarter, this year and 2003 on concern that demand for personal computers won't pick up during the rest of the year. The semiconductor industry is emerging from the worst year in its 40-year history. Chip sales last year dropped by 32 percent to $155 billion, according to market researcher Dataquest Inc. Semiconductor makers expect the global market to grow slightly this year and forecast a rebound next year as customer inventories are depleted and orders pick up. ``It's difficult, the computer sector is slow because of lack of corporate investments in IT infrastructure,'' Barrett said. ``Expecting someone to predict when the slowdown's going to end is probably a hopeless task at this stage. I can't tell you what the prospects are for the next three months.'' The Semiconductor Industry Association in June said it expects worldwide chip sales to rise 3.1 percent in 2002, missing earlier forecasts as an industrywide slump crimps demand. The industry group had earlier forecast 6 percent growth. The SIA sees sales rising 23 percent in 2003. The shares of Santa Clara, California-based Intel fell 17 cents, or 1 percent, to $18.13 yesterday in Nasdaq Stock Market trading. They have fallen 42 percent this year.