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To: Johnny Canuck who wrote (40897)	4/1/2004 11:19:23 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70432

07:32 Contract prices for DDR modules to surge 14% in 1H April -- Digitimes Digitimes reports that contract prices for 256MB DDR modules are expected to surge by up to 14% in the first half of April, traditionally the slowest month of a year, according to sources at DRAM makers. Average selling prices for DRAM typically decline by 1% in April. However, this pattern is unlikely to recur this year, given that tightening supply has shifted the control of DRAM market from buyers sellers, said Nam Hyung Kim, an analyst with iSuppli. Other than major PC makers like Dell and Hewlett-Packard, the smaller PC makers reportedly cannot secure enough DDR supply from DRAM vendors and are willing to accept higher prices to rebuild their low inventory levels, said DRAMeXchange yesterday, echoing Kim's comment. The red-hot demand in the contract market will result in a further supply reduction in the spot market. Samsung and Micron have reported insufficient supply for PC OEMs. Hynix Semiconductor reportedly plans to halt supply to the spot market at the end of this month. [Harry: This confirms what ATYT was guiding.] 07:31 QCOM Qualcomm downgraded at BofA (66.29 ) Banc of America downgrades QCOM to Neutral from Buy and cuts their target to $60 from $72; although handset fundamentals remain positive, firm believes that the momentum behind the upward EPS revisions for QCOM will slow after the March qtr, which may lead to multiple contraction on moderating EPS growth; firm lowers their CDMA phones est to 147 mln from 150 mln in 2004 and to 165 mln from 170 mln in 2005, and says they are more cautious on India and China and see risk to 3G ests.