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

To: rlev who wrote (15418)	5/26/2004 3:18:20 PM
From: Gottfried	Respond to of 95617

:)

To: rlev who wrote (15418)	5/26/2004 3:23:13 PM
From: BMcV	Read Replies (2) \| Respond to of 95617

CSFB is revising its view on next year's semi market (from today's "Tech Daily"): •Still '05 Downturn, Just Not as Bad. Reflecting an improving utilization outlook with less downside risk than previously believed, we are raising our CSFB Semiconductor forecast estimate. We continue to expect robust +28% y/y growth in 2004. However, we now believe relatively high utilization will support a milder pricing decline than previously projected (-5% y/y vs. -10% y/y prior). We are increasing our 2005 estimate to -2% y/y from -7% y/y. However, we continue to note this is well below bottom-up consensus expectations for 16% growth.