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

To: Gottfried who wrote (30751)	6/1/2006 10:07:17 AM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95420

Zacks Analyst Interview Highlights: National Semiconductor, Nokia, Motorola and Texas Instruments Thursday Jun 01 2006 06:00:01 EDT CHICAGO, Jun 01, 2006 (BUSINESS WIRE) -- Zacks.com releases the latest Analyst Interview. Today's interview is with equity research analyst Larry Orlowski, who discusses National Semiconductor (NYSE: NSM), Nokia (NYSE: NOK), Motorola (NYSE: MOT) and Texas Instruments (NYSE: TXN). A synopsis of today's Analyst Interview is presented below. The full article can be read at at.zacks.com. Aren't you seeing (PC market) semiconductor growth ... in emerging markets? There is still growth in large markets such as China and India, but this is really a maturing industry. The PC market is not the paradigm anymore for technology. In my view, we've grown beyond the PC-centric age and entered into one where the cell-phone is becoming the universal communicator. Where I'd want to be in technology right now is in handheld devices, specifically adding functionality to cell-phones. As we all know, the cell-phone has become an indispensable way to interact with the world, and especially with 3G networks allowing such fast Internet access these days, this is really where I see the paradigm shift taking place, and where I see more investing opportunity. This is one of the main reasons I have a Buy recommendation on National Semiconductor (NYSE: NSM). National provides power management components for wireless devices such as cell-phones - but also including PDAs and other handhelds, as well - which are key analogue components for this technology, like amplifiers and data converters. The company also has a roster of top-shelf customers such as Nokia (NYSE: NOK), Motorola (NYSE: MOT) and Samsung. And NSM has recently come down in price; I think it's really attractive here. The semiconductor market is huge. And while companies like Intel and AMD are taking the headlines at the moment, companies like National and Texas Instruments (NYSE: TXN) - which I actually have a Hold on right now - are supplying more and more functionality at higher speeds for people who continually want more options. A company like Intel has not been successful in breaking through into wireless cell-phone technology. There's more potential for this in a company like National. Does this new technology face a lot of risks, though, if consumer spending slows? You bring up a good point. We saw a report this week on consumer confidence falling, and as you know, the market has been brutal for the past couple weeks. There are lots of issues on a macro level that are causes for concern. High oil prices are making it more expensive for people to drive out to the store, and the high costs are taking more out of disposable income. Read the full interview at at.zacks.com.