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

To: Return to Sender who wrote (7079)	11/24/2002 10:51:47 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95536

TSMC sees mild recovery in Q2 '03 -paper Sunday November 24, 10:16 pm ET biz.yahoo.com TAIPEI, Nov 25 (Reuters) - Taiwan Semiconductor Manufacturing Co (TSMC) (NYSE:TSM - News) sees only a gradual recovery in business conditions in the second quarter of 2003, a local newspaper on Monday quoted Chairman Morris Chang as saying. The chairman of the world's top contract chipmaker TSMC had forecast late in October a second-quarter rebound, but told the Economic Daily News in an interview that he now expects only a mild comeback. "I think business conditions will touch bottom in fourth quarter and first quarter of next year, and improve in the second quarter, though it will not be explosive growth but mild growth," the newspaper quoted Chang as saying. The comment cast a shadow over TSMC's move to raise key fourth-quarter forecasts on Friday, and the issue was unchanged at T$50.00 by 0240 GMT after it surged the seven percent daily trading limit in the previous session. TSMC said on Friday it expected capacity utilisation to reach nearly 60 percent in the period from October to December, hiking a forecast of utilisation in the "mid-50 percent" range given in late October. The company also said it expected fourth-quarter shipments to remain steady with the third quarter, instead of falling by a "mid-teen" percentage as previously forecast. "This year's fourth-quarter orders were a little better than expected, on one hand because of seasonal factors, but it remains to be seen if customer demand will extend into the first quarter of next year," Chang said. "The fact that fourth quarter orders were better than we expected proves that customer inventories are low, and makes me more confident on second-quarter growth," he added (US$1=T$34.8)