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To: Jerry Olson who wrote (1588)	9/9/2002 9:01:24 AM
From: 2MAR$	Respond to of 1854

people are driving their kids down from their new castles in their new cars and sending them to school with used laptops ;-) throws alot of doubt on X-mas season too

To: Jerry Olson who wrote (1588)	9/9/2002 12:31:10 PM
From: Frederick Langford	Respond to of 1854

American Technology Research: 'Buy Defense, Reduce Electronics' Business Editors OLD GREENWICH, Conn.--(BUSINESS WIRE)--Sept. 9, 2002--American Technology Research, Inc. today initiated coverage on 27 stocks, including 'buys' on nine defense stocks given the current global political instability and historically low levels in defense and security spending. "Investors stand at a watershed, looking for positive fundamentals. Our answer is quit looking to Menlo Park and start at the Washington Beltway," wrote Rick Whittington, Director of Research for AmTech Research. "Ask the question: 'What is it the world wants?" The answer rings loud and clear: Greater Security and Cheaper Technology." With excess capacity and lack of visibility in the end markets for the semiconductor industry, Whittington today initiated coverage at 'hold' for 15 stocks in the sector. The stocks and ratings follow: -0- T Defense: Anteon BUY Alliant Techsystems BUY Rockwell-Collins BUY DRS Tech HOLD EDO HOLD General Dynamics BUY Integrated Defense HOLD L-3 Communications BUY Lockheed BUY Northrop Grumman BUY Raytheon BUY United Defense BUY Semiconductor: Analog Devices HOLD Applied Materials HOLD Advanced Micro HOLD Intel HOLD International Rectifier HOLD KLA-Tencor HOLD Linear Technology HOLD Micrel HOLD Micron Technology HOLD Maxim Integrated HOLD National Semi HOLD Novellus HOLD Semtech HOLD ST Micro HOLD Teradyne HOLD T Whittington has 23 years experience covering defense electronics and technology stocks as an equity analyst as well as a portfolio manager. He has been rated often as one of the top research analysts on Wall Street in both the Defense sector and the Semiconductor sector by Institutional Investor and the Greenwich Survey. Before joining AmTech Research, he had been in the research departments of various investment banks, including Banc of America, Soundview Technology Group, Prudential Securities and Kidder Peabody. Fred

To: Jerry Olson who wrote (1588)	9/10/2002 11:08:00 PM
From: Frederick Langford	Respond to of 1854

Taiwan Semiconductor Customers Seek Shipment Delays By Minoru Matsutani Hsinchu, Taiwan, Sept. 11 (Bloomberg) -- Taiwan Semiconductor Manufacturing Co., the world's largest supplier of made-to-order chips, said some customers asked for delivery delays as personal- computer sales fall short of expectations. The delay in shipments for orders already placed may result in a drop in sales from the previous quarter this quarter and next, Kenneth Kin, Taiwan Semiconductor's senior vice president in charge of worldwide marketing and sales, said in an interview. ``We have seen a slowdown in overall demand,'' Kin said. ``Particularly weak is the PC industry.'' Chief Financial Officer Harvey Chang, speaking at a Shanghai technology conference, said Taiwan Semiconductor will cut its production target for chips made with 12-inch wafer technology by 50 percent because of slower demand, a company spokesman said. Kin's comments are further evidence the semiconductor industry's outlook is deteriorating. Taiwan Semiconductor's customers, a list that includes chipmakers such as Intel Corp., typically begin building inventories as early as August to prepare for the Christmas shopping season. This week, market researcher IDC lowered its 2002 PC shipment growth forecast to 1.1 percent, or 135.5 million units, from 4.7 percent predicted in June. IDC cut its growth estimate for next year to 8.4 percent, or 147 million units, from its earlier forecast of an 11 percent gain. ``The fourth quarter is going to be pretty tough for everybody,'' said Ernie Tam, who counts shares in Taiwan Semiconductor among the $2 billion he helps manage for Baring Asset Management Ltd. ``The personal computer sector appears to be weak.'' IDC's revisions reinforced findings from Intel, which supplies about four fifths of all processors used in personal computers. Intel Chief Executive Officer Craig Barrett said last month PC demand may not rebound during Christmas season. At Taiwan Semiconductor, sales in the third and fourth quarters will ``be flat or slightly decline'' from the previous quarters, though they will grow in the second half compared with the same period last year, Kin said. He declined to specify which customers are delaying shipments. The company has lowered its monthly target for production of 12-inche silicon wafers to 5,000 from 10,000 for the remainder of the year, spokesman J.H. Tzeng said, confirming a report in the Commercial Times that cited the chief financial officer. He was speaking at a conference organized by Goldman Sachs Group Inc. in Shanghai. The company is one of about five chipmakers in the world producing advanced 12-inch wafers, which yield more than double the number of chips and pare production costs by up to a third. Global sales of semiconductors fell by a third in 2001 to $139 billion, their worst-ever annual decline, the Semiconductor Industry Association said in February. Taiwan Semiconductor posted sales of NT$35.8 billion ($1 billion) sales in the first quarter and second quarter sales of NT$44.2 billion.

To: Jerry Olson who wrote (1588)	9/11/2002 12:32:04 PM
From: 2MAR$	Read Replies (2) \| Respond to of 1854

well TXN was slow and plodding yet did hold that bottom once again OJ in the $18's stockcharts.com[h,a]daclyiay[pb50!b200!f][vc60][iut!Lh5,5!La12,26,9]&pref=G back in the high end of the range $21's ... AMGN BGEN CHIR INTU all did well too , though AMGN behaving a little tentative today at $47 where I have been shorting now, KLAC made a nice short off $35+ this am's rise.... that ESRX is one dynamite trader...come over and post once in a while <G>