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

To: Donald Wennerstrom who wrote (13681)	3/3/2004 11:19:17 AM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95587

The following are some positive announcements via Briefing.com this morning. 09:31 ET JP Morgan reits bullish stance on Semi Equips : JP Morgan retierates their bullish stance on Semiconductor Equipment industry fundamentals and equipment stocks as they believe historically low capital spending ratios over the past few years suggest under-spending, thus implying tight utilization rates well into 2005. According to the firm, capital spending should exceed chip industry revenue growth in 2004 and 2005 which makes equipment stocks look more attractive than semi's. Equipment stocks are trading at a large discount to chip stocks on 2005 EPS estimates and the firm expects consensus to continue to move up causing equipment stocks to offer more upside percentage gain potential as chip and equipment stocks rise throughout the year. They are reiterating Overweight rating on Top Picks ASML (+0.04) and Cymer (-0.15). 07:56 ET TSM: Taiwan Semi Q1 wafer shipment may beat market expectations -- Digitimes 11.2: Digitimes reports TSM wafer shipment for the first quarter may grow 8-9% sequentially, which is higher than the 5% market estimate driven by strong orders from communications sector, according to Commercial Times report. Demand from major handset solution vendors like Motorola, Silicon Lab, Qualcomm and Philips has increased. With the robust demand, TSMC's second quarter revenues are believed to grow 15% from the first quarter, the report further indicated. 07:54 ET KLAC upgraded at Moors & Cabot 53.50: Moors & Cabot upgrades KLA-Tencor to Buy from Hold and raises their target to $69 from $55 based on their belief that orders are tracking ahead of plan, booking trends will continue to be strong for most of the year, margins are improving, and the recent decline in the stock has created an attractive entry point.