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Technology Stocks : Texas Instruments - Good buy now or should we wait? -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (3532)	4/27/1998 8:43:00 AM
From: charles black	Respond to of 6180

Great information, Larry. Charles Black

To: TREND1 who wrote (3532)	4/29/1998 3:43:00 PM
From: SteveG	Respond to of 6180

Hi Larry- What do your indicators say lately? TXN was not (IMO) an optimistic presentation by Exec VP Richard Templeton (for near term) at H&Q. -sees less than 5% growth in '98. -continued pressure in semi margins -near term caution is Americas, especially in US channel inventories -Asia is in a cautionary "watch mode" -seeing weakness in Japan. -Europe wireless is strong. DSPS (includes DSP, analog and analog-mixed-signal) will account for about 1/2 of revs, with DRAM about 12%, "other" was ~38% Of DSPs, they have 3 lines - the 2X powering storage, the 5X in cellular and the C6X for dominantly (>90%) ADSL. Digital cellular is their main driving force now and for the forseeable future. They see the mixed signal component growing 20%. In breakout, I got to question George Berber (head of TXN broadband networks) about ADSL. They don't see ANYTHING interesting/serious happening their until late '99 or 2000 at earliest. (This was echoed by MOT at a later session, and they seem to NOT be focused on DSL. On broadband, they highlighted their cablemodems.) They are banking HEAVILY on ADSL though, and expect ADSL to be a major driver of their C6X (>90%), with the C6X being eventually an appreciable component of their DSP. When pressed, they acknowledged all the obstacles in deployment - Telecom Act/unbundling RBOC concerns, plant condition, T1 cannibalization, and general infrastructure upgrade costs. They acknowledge that C6X cost and power are also concerns. In the meantime, they will live on cellular/mixed signal and storage revenues. Interesting, that they don't expect much expected by way of C6X outside ADSL. Off to lunch! Good Luck! Steve! (<g>!)