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

To: BWAC who wrote (2878)	9/4/2002 2:27:52 PM
From: Proud_Infidel	Respond to of 25522

Semico lowers 2002 chip forecast to 6% By Mark LaPedus Semiconductor Business News (09/04/02 01:29 p.m. EST) SANTA CLARA, Calif. -- During a conference here today, Semico Research Corp. lowered its overall semiconductor forecast for 2002, but noted that the market will rebound and recover in 2003 and 2004. Originally, in May, Semico predicted that chip sales would bounce back from the severe 2001 recession with 17% growth in 2002. In 2001, the worldwide IC market fell by a staggering 31% over 2000, according to Semico. But today, the Phoenix-based market research firm lowered its overall forecast, saying that the worldwide semiconductor market will grow only by 6% in 2002. And as expected, Semico also projected 30% growth for the IC industry in 2003. The IC market also looks strong in 2004, but the industry is expected to enter into a downturn in 2005, said Jim Feldham, president of Semico, during a presentation today. Feldham also put a sobering spin on the outlook, saying that worldwide semiconductor sales will not reach their peak levels of 2000 until 2004. “It won't be until 2004 before we get back to the same level as we were in 2000,” he said. “Then, we're back in a downturn in 2005,” he told the audience at the conference. In an interview with SBN before the event, Feldham also expressed some concerns about the worldwide IC market in 2002. “Prices did not firm up like we thought,” he said. On the other hand, IC unit growth is expected to hit a healthy 11% in 2002, he said. And in 2003, the market could reflect the events of 2002, he said. “We will see a flat first quarter [of 2003],” he said during a keynote address. “Then, things will accelerate in the second half of next year.” What will drive the market in 2003? While the PC and cellular-phone upgrade markets will propel demand, China will also remain a bright spot. “If we look into the next decade, China will become the next golden economy,” he added.

To: BWAC who wrote (2878)	9/4/2002 2:28:41 PM
From: Proud_Infidel	Respond to of 25522

Semico lowers 2002 chip forecast to 6% By Mark LaPedus Semiconductor Business News (09/04/02 01:29 p.m. EST) SANTA CLARA, Calif. -- During a conference here today, Semico Research Corp. lowered its overall semiconductor forecast for 2002, but noted that the market will rebound and recover in 2003 and 2004. Originally, in May, Semico predicted that chip sales would bounce back from the severe 2001 recession with 17% growth in 2002. In 2001, the worldwide IC market fell by a staggering 31% over 2000, according to Semico. But today, the Phoenix-based market research firm lowered its overall forecast, saying that the worldwide semiconductor market will grow only by 6% in 2002. And as expected, Semico also projected 30% growth for the IC industry in 2003. The IC market also looks strong in 2004, but the industry is expected to enter into a downturn in 2005, said Jim Feldham, president of Semico, during a presentation today. Feldham also put a sobering spin on the outlook, saying that worldwide semiconductor sales will not reach their peak levels of 2000 until 2004. “It won't be until 2004 before we get back to the same level as we were in 2000,” he said. “Then, we're back in a downturn in 2005,” he told the audience at the conference. In an interview with SBN before the event, Feldham also expressed some concerns about the worldwide IC market in 2002. “Prices did not firm up like we thought,” he said. On the other hand, IC unit growth is expected to hit a healthy 11% in 2002, he said. And in 2003, the market could reflect the events of 2002, he said. “We will see a flat first quarter [of 2003],” he said during a keynote address. “Then, things will accelerate in the second half of next year.” What will drive the market in 2003? While the PC and cellular-phone upgrade markets will propel demand, China will also remain a bright spot. “If we look into the next decade, China will become the next golden economy,” he added.

To: BWAC who wrote (2878)	9/4/2002 2:54:56 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Ex-WorldCom Execs Plead Innocent Wednesday September 4, 1:37 pm ET By Gail Appleson NEW YORK (Reuters) - WorldCom Inc.'s (Other OTC:WCOEQ.PK - News) former top finance executive pleaded not guilty on Wednesday to charges he orchestrated one of the largest corporate accounting scandals in U.S. history by masking billions of dollars in expenses at the telecommunications giant. At the arraignment, federal prosecutors also said their probe into WorldCom's $7.68 billion in accounting misstatements was continuing, and they expect more charges to be brought, possibly against additional defendants. Scott Sullivan, 40, WorldCom's former chief financial officer, entered his not guilty plea in Manhattan federal court to charges that he was behind a scheme aimed at artificially inflating WorldCom's earnings by hiding expenses. The indictment charges that the scheme allowed WorldCom to report earnings inflated by some $5 billion over more than 18 months. Sullivan -- a resident of Boca Raton, Florida -- remains free on a $10 million personal recognizance bond that was set when he was first arrested last month. WorldCom fired Sullivan in June, alleging he masterminded the accounting debacle. WorldCom's former director of general accounting, Buford Yates, 46, also pleaded not guilty to his alleged role in the conspiracy. Yates -- who lives in Brandon, Mississippi -- was released on a personal recognizance bond of $500,000. Both men were named in a seven-count indictment last week accusing them of one count of securities fraud, conspiracy to commit securities fraud, and fraud in connection with the purchase or sale of securities. It also charges them with three counts of making false filings with the Securities and Exchange Commission. The conspiracy count carries a possible maximum five-year prison term and a $250,000 fine. The securities fraud and false filings charges each carry a possible maximum term of 10 years and $1 million fines. WorldCom, the nation's No. 2 long-distance carrier, filed the world's largest bankruptcy in July as it buckled under $40 billion in debt and the huge accounting fraud. The Clinton, Mississippi-based company has also been sued by the SEC. The indictment alleges that the defendants and their co-conspirators began an illegal scheme in October 2000 aimed at hiding expenses, thereby inflating WorldCom earnings to meet Wall Street expectations. The court papers allege the scheme lasted through this June. MORE CHARGES LIKELY, OTHERS EYED Government prosecutors said the probe was continuing and more charges were probable. "The government is continuing its investigation and we do plan to supersede at some point to add charges to the same scheme and potentially to add defendants," David Anders, assistant U.S. Attorney, told U.S. District Judge Barbara Jones. On Tuesday, Anders said the government was in plea negotiations with David Myers, WorldCom's former controller. Myers was arrested last month with Sullivan on a criminal complaint, but he has not yet been indicted. Myers was freed on a $2 million personal recognizance bond. Last week, when prosecutors announced the indictments of Sullivan and Yates, the government implicated Myers and two other WorldCom accounting executives as unindicted co-conspirators. Anders told Jones that a trial would last three to four weeks, but the judge did not set a trial date because the government said additional charges were expected. During the hearing, Yates' lawyer David Schertler said he planned to file a motion asking that the case against his client be moved to federal court in Jackson, Mississippi. He said he planned to file the motion within 30 days.