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

To: StanX Long who wrote (13154)	1/28/2004 11:49:57 PM
From: StanX Long	Read Replies (1) \| Respond to of 95864

Semiconductor Industry is Cooking, Analyst Reports By David Manners -- Electronics Weekly, 1/28/2004 The worldwide semiconductor industry will grow 32 percent this year with the Japanese returning as formidable competitors after five years in the doldrums. That was the message from IFS 2004, a forecast seminar held by analyst house Future Horizons in London yesterday. Last year the semiconductor market grew 18.6 percent in a recovery that was devoid of corporate spending. With business regaining profitability, rising capital budgets for replacement of IT equipment will kick in this year. “That delicious aroma is the semiconductor market cooking,” said Future Horizons’ CEO Malcolm Penn. “Lead times are going out, the PC and cell-phone markets are coming back. Unit demand is rising. Even ASPs are rising. Every trend is upwards and there is visibility into the third quarter, which people haven't seen for three years.” The firm expects 6 percent growth in electronic equipment, 12 percent growth in PCs and 21 percent growth in mobile units. Sales of semiconductor production equipment will grow 50 percent. The Japanese semiconductor market began a strong recovery in Q3 2003. “The Japanese are back in the game,” said Penn. “They've been in the doldrums but they've restructured and are coming back with a vengeance. They will be formidable competitors once again.” Electronics Weekly is the London-based sister publication of Electronic News.

To: StanX Long who wrote (13154)	1/29/2004 9:43:07 AM
From: Gottfried	Read Replies (2) \| Respond to of 95864

Stan, thanks for all the news. The 'semi stocks may soon sell off' article has some valid points about valuation. Augie made a 50 year chart of the Fed rate. Helps put yesterday's commotion in perspective. investorshub.com Gottfried

To: StanX Long who wrote (13154)	1/30/2004 12:33:04 AM
From: StanX Long	Read Replies (1) \| Respond to of 95864

TSMC budgets $2 billion for 2004 capex, after strong results by Mike Clendenin, EETimes Silicon Strategies 01/29/2004, 5:55 AM ET TAIPEI, Taiwan -- With sales hitting a record high, leading foundry Taiwan Semiconductor Manufacturing Co. Ltd. plans to increase capital spending by 80 percent this year to about $2 billion, the company said Thursday (January 29, 2004). The money would be used to boost overall capacity by 15 percent, to about 4.6 million 8-inch equivalent wafers. Within that context, 12-inch wafer capacity will increase 130 percent, TSMC said. The foundry said it ran at 101 percent capacity utilization last quarter, meaning that it squeezed more wafers out of its factories than they were rated for. That, and incremental increases in capacity, helped TSMC book record high revenue of $5.8 billion in 2003, up 25 percent over 2002. Profit rose 119 percent during the same period to $1.37 billion, slightly exceeding market expectations. TSMC said it expects demand to remain firm in the current quarter. Wafer shipments will increase by up to 5 percent, ASPs will decline slightly and utilization will hover at 100 percent. Communications pulled into the lead last quarter as TSMC's top revenue earner (42 percent), followed by the PC segment (35 percent) and then consumer (17 percent). TSMC expects increasing demand from communications, relatively flat demand in the consumer area, and a seasonal decline in the PC segment. Demand for 0.13-micron manufacturing process technology was relatively flat in the fourth quarter, at 18 percent of sales. The percentage of sales for 0.18-micron and below technologies declined a few percent. TSMC noted that R&D expenses increased 32 percent last quarter due to ongoing development of 90- and 60-nanometer technologies on 12-inch wafers. Quarter-on-quarter sales were up 5 percent to $1.7 billion. Profit was also up 5 percent to $471 million.