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To: maceng2 who wrote (274)	7/22/2003 3:22:42 PM
From: maceng2	Respond to of 1417

The chipsters outlook. Just take the blue pill .. Electronics Industry Update e-insite.net [see graphs in link .. pb] Semiconductor sales are growing slowly again after a brief dip during the winter. A rising growth trend is expected that will yield an 11% gain this year and then 25% more in 2004. About half of the sales increase will be attributed to higher prices as supply conditions gradually tighten in a more confident post-Iraq environment. So far, the only economic impact of SARS is a small decline in Asian end-market demand that is more than offset by the post-war boost in demand in the United States and Europe. Electronic component and system production volume has been rising in the United States, Europe and Japan this year even though each region has had small, overall, declines in industrial production. In the United States, component (including semiconductor) output rose 2.1% in April from March. Computer production gained 2.0%, consumer electronics 1.6% and telecom fell 1.4%, although the recent rising trend is expected to continue. Rising semiconductor sales will initially be driven by the expanding computer and telecom markets, while non-electronics OEM end markets are flat or declining slightly. The shift of systems assembly to China still has some momentum left from earlier decisions not yet implemented, but the pace is slowing.