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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (14709)	5/2/2005 10:36:51 AM
From: Proud_Infidel	Respond to of 25522

Most Chinese IC design at 0.18-micron, says survey Jake Chen and Cindy Hu EE Times (05/02/2005 9:56 AM EDT) SHENZHEN, China — Despite a bleak scenario in the global semiconductor market, China's integrated circuit design industry posted significant growth in 2004, according to the "IC Design House Survey" conducted by EE Times—Asia. By year-end, 421 companies had engaged in IC design in the mainland, according to the survey, and the number of electronics manufacturers involved in the industry had increased to about 16,500. Moreover, total revenues reached $984 million — an increase of 41.5 percent over the previous year. The growth is attributed to the demand in display drivers, smart cards, wireless communications and multimedia chips. In the next four years, the CAGR is forecasted to reach 65 percent, with sales value reaching $9.6 billion in 2008. Last year, most ICs under mass production used 0.18-micron manufacturing processes. Only a few products were developed using 0.13-micron technology, with research moving toward 90-nm. The maximum level of production integration has reached about 50 million gates. Products that have displayed competitive advantage include TFT-LCDs and LED drivers from Solomon Systech, MP3 chips from Actions Semiconductor and 2G digital ID cards from Huada Electronics. Some companies have shown competitive IC design technology. For example, Huawei developed a switcher IC with nearly 50 million gates using 0.13-micorn CMOS technology. Spreadtrum Communications, meanwhile, manufactured a single TD-SCDMA/GSM/GPRS multimode baseband chip using advanced 0.18-micron mixed-signal CMOS technology. Moreover, NanShanBridge Co. Ltd successfully developed a 14 million gate Ethernet router switch chip using a 0.18-micron CMOS process. SoC chip design has been established as the breakthrough point in China's IC design industry's efforts to realize the so-called collective breakout. With more and more companies entering the field of SoC design, integration of software and hardware becomes more challenging. Respondent companies expressed that, with fiercer market competition and much shorter product life, decreasing the IC design cycle becomes one of their greatest challenges. This article was contributed by EE Times-China

To: Gottfried who wrote (14709)	5/2/2005 11:37:57 AM
From: Proud_Infidel	Respond to of 25522

Manufacturing, Construction Spending Climb Monday May 2, 11:01 am ET By Brad Foss, AP Business Writer Manufacturing Activity Expands in April, but at Slower Pace; Construction Spending at Record Level WASHINGTON (AP) -- The manufacturing sector expanded in April for the 23rd consecutive month, though the rate of growth slowed, continuing a trend that began in December. The Institute for Supply Management said Monday that its index measuring manufacturing activity registered 53.3 in April, down from March's 55.2 reading. The performance was weaker than the 55.0 analysts had expected, putting the index at its lowest level since July 2003. A reading of 50 or above in the index means the manufacturing sector is expanding, while a figure below 50 represents a contraction. The manufacturing data from ISM is watched closely by economists and investors because it one of the first readings of the nation's economic activity for any given month. Norbert J. Ore, head of the group's survey committee, framed the slowdown in the sector's growth as a good thing. "The trend is definitely toward a slower pace of growth, and that should relieve some of the pricing pressure that the sector has experienced during 2004 and year to date in 2005," Ore said in a statement accompanying the report. That argument has merit, said Douglas Porter, deputy chief economist at BMO Nesbitt Burns. "You could make the case that manufacturing activity had been running too hot for comfort for the past year or so," Porter said. "We would have had serious inflationary pressure had the manufacturing sector kept growing at that pace," he added. Now, he said, the U.S. economy appears to be on track to expand at a sustainable rate. Also Monday, the Commerce Department said construction spending rose 0.5 percent to a record level in March, as strong building activity at offices and shopping malls helped offset a slowdown in housing construction. The increase pushed total construction activity to a seasonally adjusted annual rate of $1.05 trillion, an all-time high, the agency said. In morning trading, the Dow Jones industrials climbed 46.26 to 10,238.77, while the Nasdaq composite index rose 5.85 to 1,927.50. The ISM's new orders index fell to 53.7 in April from 57.1 in March, while manufacturers' inventories -- a measure of anticipated order demand -- declined to 47.9 in April from 54.1 in March. The index's price gauge declined to 71.0 in April from 73 in March. The employment reading decreased in April to 52.3 from 53.3 in March.

To: Gottfried who wrote (14709)	5/2/2005 11:51:54 AM
From: Proud_Infidel	Respond to of 25522

Major Sales Growth Slowdown Seen For Semis In 2005 05.02.05, 11:40 AM ET Standard & Poor's Equity Research maintained a "neutral" outlook on the semiconductors sub-industry and reiterated a "hold" rating on Intel (nasdaq: INTC - news - people ), citing a major slowdown in industry sales growth for 2005. The research firm said March sales were up 2.2% from February and up 13.2% from the year-ago period, according to reports from the SIA trade group. S&P Equity Research expects full-year 2005 industry sales growth of 5%, which represents a significant moderation from the 28% growth reported in 2004. "We think slower growth for both the overall economy and major end markets will dampen industry growth in 2005," S&P Equity Research said. Despite its "neutral" outlook for the group, the research firm maintained "strong buy" ratings on Maxim Integrated Products (nasdaq: MXIM - news - people ) and Linear Technology (nasdaq: LLTC - news - people ), which S&P Equity Research believes have above-average growth prospects and relatively low risk profiles.

To: Gottfried who wrote (14709)	5/2/2005 3:07:01 PM
From: Proud_Infidel	Respond to of 25522

Don't Abandon Stocks Monday May 2, 8:08 am ET By Joseph Lisanti This is the type of market that can cause investors to become disgusted and throw in the towel. The almost daily change in direction may be ideal for traders, but can cause those with an investment horizon that extends beyond the next few hours to fret that stocks are not an attractive asset class for the long term. After the bubble burst in early 2000, some people abandoned stocks to find their new investment passion in real estate. Yet, over the past eight decades, no other asset class has offered both the inflation-beating returns and the liquidity of common stocks. Looking at the most recent five years, that notion may be a bit hard to swallow. But if you extend your search over 10 years, profits in stocks are easier to see. From 1926 through 2004, you had a 12% chance of losing money in the S&P 500 in any five-year period, but only a 3% chance of loss in any 10-year interval. Extend the time frame to 15 years, and there were no losses experienced. A quick look at a long-term chart of the stock market can provide visual confirmation. Although far from smooth, the chart of the S&P 500 traces a gradual advance over the years. Even the October, 1987, crash looks minor when viewed in its long-term context. British economist John Maynard Keynes famously observed, "In the long run we are all dead." True, but an investment horizon of ten to 15 years is not unreasonable for baby boomers preparing for retirement. Younger investors can be even more patient. Although we started the year with modest expectations, 2005 is unfolding as a more difficult period for stocks. As a result, we have lowered our yearend target for the S&P 500 to 1245 from 1300. That's still a 2.7% gain from the end of 2004. We continue to advise 40% in U.S. stocks and 20% in foreign equities.