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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (6032)	10/9/2002 10:41:40 PM
From: Return to Sender	Respond to of 95383

TSMC chairman expects weak holiday season By Faith Hung EBN (10/09/02 05:28 p.m. EST) siliconstrategies.com HSINCHU, Taiwan--The chairman of Taiwan Semiconductor Manufacturing Co. Ltd. said he doubts the chip industry will see much of a lift from the holiday buying season. Morris Chang, chairman of the world's No.1 pure-play foundry, said today in a public appearance that, "The semiconductor industry would be more likely to see a recovery next year." Chang's comments, which are more conservative than those he made in July, indicate few hopes for a seasonal pickup in the typical strong Christmas holidays, some analysts said. "The chairman's remarks mean there's still little improvement on the demand side," said Rick Hsu, a senior analyst with Nomura Securities Co. in Taipei. "In July, Chang forecast the industry would take a pause for three to six months. Now, the pause will definitely take six months." Chang's guidance is the latest bearish views expressed by executives in the electronics industry. Earlier this week, a Hewlett-Packard executive said the world's biggest PC maker isn't depending on a pickup in technology in 2003. For the Hsinchu-based foundry service provider, graphics design houses Nvidia and ATI Technologies are among its major customers that have cut orders due to rising inventories, Hsu said. The only sectors that would show growth are wireless handsets and wireless local area network (WLAN), he added. TSMC and its closest rival United Microelectronics Corp. are expected to post a 10% to 20% sequential decline in their December quarter sales, some analysts said. Yesterday, TSMC said sales in the September quarter dropped nearly 10% from the previous three months to $1.1 billion due to a decrease in unit sales. UMC, Hsinchu, Taiwan, reported today that sales fell 3% to $546 million over the same period. The two powerhouses are set to release late this month their third-quarter earnings, give guidance on their outlook, and probably announce reductions in their 2002 capital spending plans. TSMC has cut its capex budget to less than $2 billion, and UMC to $1.6 billion. Thanks for the links Ork. RtS