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

To: Lizzie Tudor who wrote (4829)	1/8/2003 2:30:51 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Intel's '03 CapEx to be flat-to-down, analysts say By Mark LaPedus Semiconductor Business News (01/08/03 01:35 p.m. EST) PEBBLE BEACH, Calif.--In an ominous sign for the chip-equipment industry, Intel Corp.'s capital spending is expected to be flat-to-down in 2003 over 2002, according to the "chatter" among analysts at the Industry Strategy Symposium (ISS) here this week. Intel--the world's largest buyer of semiconductor equipment--has not officially announced its capital spending plans for 2003. But the forecasts for Intel's 2003 spending plans range from $3-to-$4.7 billion in 2003, according to analysts at ISS. In comparison, the microprocessor giant lowered its capital spending from $5.5 billion to about $4.7 billion in 2002. And in 2001, it spent a whopping $7.5 billion (see Oct. 15, 2002 story ). One CEO at a major chip-equipment provider speculated that Intel would spend only about $3 billion in 2003. “That's nothing,” the CEO lamented. “That less than half of what Intel spent in 2001.” Steve Pelayo, an analyst at Morgan Stanley in San Francisco, projected that Intel will spend about $4.2 billion in 2003. In total, worldwide capital spending in the semiconductor business is projected to increase 5-10% in 2003 over 2002, Pelayo said. He also projected 10% growth for the overall chip-equipment industry in 2003. “The backend will outperform the front end,” he said. Klaus-Dieter Rinnen, chief analysts for Dataquest Inc., projected that Intel's capital spending will be flat this year. “We're neutral, meaning flat,” he said.