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

To: BWAC who wrote (9154)	3/26/2003 5:31:34 PM
From: Return to Sender	Respond to of 95652

Network Equipment . . . JP Morgan Securities said handset maker Motorola "recently canceled or reduced orders at its component manufacturers, foundry partners and EMS partners." It said it expects first quarter 2003 orders from Motorola to some of its component suppliers could decrease over 25 percent sequentially. "This order shortfall appears to be due to slower than expected sales of Motorola's high-end color screen handsets along with a build up of inventory as it appears Motorola is pushing out orders to reduce channel inventory. We believe this could be negative for TriQuint and RF Micro Devices as Motorola is TriQuint's largest customer at 16 percent of revenues in 2002 and is RF Micro Devices' second largest customer. Semiconductor Equipment . . . Photronics will fire as much as 12 percent of its employees and halt work at one of its biggest manufacturing sites in an attempt to return to profitability. Semiconductors . . . Taiwan Semiconductor Manufacturing lost a multiyear contract to build a new computer-graphics chip for Nvidia to International Business Machines. IBM and NVIDIA have formed an alliance, which entitles IBM Microelectronics to manufacture NVDA's next-generation GeForce graphics processor units. The significance of this announcement can be attributed to NVDA attempting to diversify its outsourcing of fabrication processes in an effort to enhance its product to market execution and competitive positioning in the GPU markets. WR Hambrecht believes Intersil 1st quarter upside unlikely. Conexant Systems wrote off $573.2 million after determining its Mindspeed Technologies segment exceeded its actual value. The semiconductor developer said it will also take a $19 million impairment charge in the second quarter of fiscal 2003 for intangible assets connected to the closing of Mindspeed's HotRail design center, the filing said. The company said the impairment charges resulted from a transition impairment test of all of its goodwill as required by Financial Accounting Standard No. 142. Conexant announced earlier this week to spin off Mindspeed. Boxmakers . . . CDW Computer Centers (direct seller of computers, printers and software) was downgraded to ``equal-weight/in-line'' from ``overweight/in-line'' by Morgan Stanley. 2020insight.com Sounds good BWAC. I will keep my eyes open for your next trades on the Full Disclosure thread because I just might follow your pattern of accumulation. RtS