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

To: BMcV who wrote (15497)	6/2/2004 10:40:53 AM
From: Proud_Infidel	Respond to of 95353

Cary sees a steady upcycle into 2007. After the long downturn we had, the longest is history, I believe it is only natural that the forthcoming upcycle will be longer in duration also, especially with all of the caution we have been seeing. Now if INTC should change their capex plans from $3.9B to $7B or so, then I would definitely reassess my thinking. Brian

To: BMcV who wrote (15497)	6/2/2004 10:42:59 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95353

From Briefing.com: 10:30AM : New session lows for the major averages, as the S&P 500 joins the Nasdaq in negative territory, while the Dow maintains only a fraction of its earlier gains and is hugging the flat line... The semiconductor sector continues to spearhead the decline, with the SOX index down 2.6% at this juncture... Among the laggards of note are Xilinx (XLNX 34.77 -1.58), KLA Tencor (KLAC 46.40 -1.31), and Maxim (MXIM 49.49 -1.22)... Also in the red is Altera (ALTR 22.12 -0.71) on the heels of its mid-quarter update, where the company stated that Q2 is tracking at the high end of its expectations of revenue from $260.0-265.0 mln... Intel (INTC 28.02 -0.31) is lower ahead of its mid-quarter update tomorrow... Separately, note that the 50-day simple moving average for the S&P 500 is at 1117 and the index's failure at this level would likely incite additional selling pressure...NYSE Adv/Dec 1535/1288, Nasdaq Adv/Dec 1220/1419 9:59AM Fairchild Semi Intl approaches it May lows (FCS) 17.72 -1.78: -- Technical -- As the stock comes under selling pressure this morning, it approaches potential support at its May lows (17.52/17.64) and its October 3 bullish gap low (17.80). 7:17AM Fairchild Semi reits Q2 sales guidance, but notes backlog volatility (FCS) 19.50: Co reits previous guidance for Q2 sales growth of 5% sequentially which computes to $417.7 mln vs the $416.4 mln consensus. However, co notes backlog volatility. Also, lead times increase steadily through the quarter. 7:53AM TTMI target lowered to $14 at RBC following filing 11.45: RBC lowers its target on TTM Technology to $14 from $23 to reflect (a) 4.4 mln share (11+%) overhang following amended registration statement indicating TTMI's intent not to sell stock, but the VC's intent to fully liquidate holdings and (b) poorer market sentiment following Merix's (MERX) repeated disappointments over past few months. 9:32AM Sierra Wireless inks deal with Adino Telecom (SWIR) 27.95 +0.32: Co announced an agreement with Adino Telecom Limited, an Indian broadband solutions company, to distribute the Air Card 750 wide area wireless PC Card and the rugged MP 750 GPS modem, for use on GSM (Global System for Mobile Communication) and GPRS (General Packet Radio Services) networks, and the new Air Card 775 PC Card for EDGE (Enhanced Data rates for Global Evolution) networks, to customers in India. This agreement marks SWIR's first entry into the Indian marketplace. 8:57AM Merrill Lynch cuts estimates for disk drive stocks : Merrill Lynch cuts ests for STX, MXO, WDC, and HTCH, and says it's still too early to invest in the U.S.-based hard drive stocks. Firm cites the following factors: 1) recent T.S.R. (hard drive supplier) data, which suggests downside to their prior ests; 2) distributor checks, which suggest that shipments would be down sequentially in CQ2; 3) their belief that key supplier HTCH has not reached an inflection point in its suspension assembly biz; 4) their Taiwan team's ests that PC motherboard shipments will be down 11% sequentially in CQ2; and 5) slowing growth in Europe due to a declining euro and weakness in continental Europe. biz.yahoo.com We have a series of lower highs in place for the SOX. Take a look at this chart and simply draw a mental line over the tops the last six months. stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!e5!d20,2!f][vc60][iUb14!La12,26,9!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G There is a downtrend in place that apparently was not going to be broken no matter how high the total put to call ratio got recently. RtS