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Technology Stocks : Tower Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: virgil vancleave who wrote (638)	12/16/1997 9:12:00 AM
From: jimiboy	Respond to of 1853

going back to the pyramid belief of 1. Sector--techs..killed by Asian flu 2. Industry--semis--killed by reports of overcapacity 3. Company--hurt by own reports of reality and blend with a little tax selling and I just think that we're as ugly as we are gonna get right now. The sector seems to be trying to rebound a bit now. Get us into 1998 and things will look a little better. This company just doesn't have enough on its own to break free of earnings downgrades from the big boys (and girls). Hey if slob says we're near the bottom then I feel better already. I plan to be in the market a long time and hope to use my miscalculation on this one as a little "on the job" training. BTW, a happy holiday season to all!!!

To: virgil vancleave who wrote (638)	12/16/1997 10:27:00 AM
From: Don Walster	Read Replies (1) \| Respond to of 1853

Hi Virgil! In case others didn't take the trouble to check out Shlomi Cohen's post based on his meeting with the 2 CEO's of TSEMF, here it is: To: Jim Kay (449 ) From: shlomi cohen Wednesday, Nov 12 1997 12:43AM EST Reply # of 639 Here are my notes from the meeting with the two ceo of Tower during R&S conference yesterday: The warning came out because of lower orders to Q4 AND Q1 after very high orders for last Q (chrismas) and lower prices in the arket.Prices are now lower than the average and they expect them to be back in the near future to above average level(no one know when exactly).If chrismas sales will be great we can expect higher orders from January. The big news, in my view ,is the new contract they negotiating with National.(the lower orders are also from National due the after chrismas slowdown).Since I read that National CEO is the only one that came with very very high forecasts for the semi markert for the end of the decade (10 times. from 80M chips to 800M) I think he will close a deal with Tower that will give him the capacity to serve this high level of demand he expects. They see in the market a trend that will give Tower a better market in the future:very high growth in fabless companies in one hand (50%) and a trend of outsourcing even from fab companies like Motorola which CEO Cohen met 10 days ago and they told him about they plans to outsource production in the future. In the presentation CEO COHEN defined Tower situation as : "Excellent longer opportunities". They are in a process of technology transition (two chips on one) and they have 4 new customers for that.They are going to the embedded non volatile memory foundry market which he said is a market of $5b. This move will lower the exposure to the prices steep movements. They are going to get 25% higher capacity from investments in the fab1 with 34% GOVERNMENT GRANTS (Don capitalized for emphasis) and planning fab2 for the shortage they see after 1999-2000 but he did not want to say if fab2 will be in Israel or other place since they are negotiating now and it is very sensitive. Asked about shares buyback they said it is one of the possibilities. Shlomi Cohen. \| Previous \| Next \| Respond \| View SubjectMarks Bookmark this Subject Return to Semiconductors One or more words separated by spaces: Subject Titles Only Full-Text Messages with Links