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

To: The Ox who wrote (11618)	9/16/2003 6:16:29 PM
From: The Ox	Read Replies (2) \| Respond to of 95572

More from SSB on TSM: Given their high-utilization rates, we once again are focused on TSMC as a source of marginal order strength. Noting that recent orders from Inotera, Samsung, and Powerchip are supporting 10%-15% order growth for 3Q03 and 4Q03 respectively, we look to TSMC as a potential source of order upside for 4Q03 or more likely 1Q04. Given our discussions with ASML, we note that TSMC is expected to take incrementally more 200mm-based lithography equipment in 4Q03, a pre-cursor to other front-end equipment orders that we think could begin in 4Q03/1Q04. We note that between July 10th and September 8th, according to a filing with the Taiwan stock exchange, TSMC spent ~$68M with ASML.... Taiwan Semiconductor Manufacturing (TSM) announced on Tuesday that net sales for August totaled NT$18,317M (~ US$535M), up 3.8% over July's reported sales. Revenues for January through August '03 totaled NT$125.2 billion (~US$ 3.66 billion), an increase of 17% over the same period in 2002. According to TSM VP Lora Ho, TSM's wafer shipments in Q3 are expected to be slightly higher than the 5-9% range noted in previous Q3 guidance.

To: The Ox who wrote (11618)	9/17/2003 12:41:50 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95572

From the "next year PE" and PEG point of view, TSM is the best of the 18 stocks that make up the SOX as shown in the table posted this past weekend. Message 19300494 Its projected long term growth rate of 25 percent is right up there, and mostly above, the rest of the stocks in the SOX - only BRCM at 30 percent is ahead of TSM, while MXIM and ALTR are the only 2 other stocks with 25 percent long term predicted growth rates - all the other stocks in the SOX have lower projected rates. One could easily make the argument, based on those factors, that TSM is one of the top 3 stocks in which to invest if you wanted to own a piece of the SOX. <So, is the TSM cup half full or half empty?> I would say it is half full!:) Don

To: The Ox who wrote (11618)	9/19/2003 8:15:57 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95572

Michael, Did you notice the results for the SOX this week? Of all the 18 stocks in the SOX, TSM was in last when sorted by weekly gain at - 4 percent, the SOX being up 2 percent. Message 19324221 However, when sorting by PEG, it is in first place. It looks real good with a "next years" PE of 24 and a long term growth rate of 25 percent for a PEG of 0.95, the only stock in the SOX with a PEG less than one. Message 19324228 Think we ought to "pile in" the stock next week?:) Don