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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: John Ritter who wrote (4141)	8/20/1998 6:20:00 PM
From: LoLoLoLita	Respond to of 6565

The Chips Are Down: from excite.com, Business News Updated 6:03 PM ET August 20, 1998 Chip maker stocks tumble again amid grim outlook Current quotes (delayed 20 mins.) LSI 15 1/8 -11/16 (-4.35%) INTC 86 -3 9/16 (-3.98%) TXN 58 7/8 -1 5/8 (-2.69%) HWP 56 1/8 (0.22%) IBM 128 1/16 -1 7/8 (-1.44%) MU 32 1/4 -2 1/16 (-6.01%) AMD 17 13/16 -1 (-5.32%) SAN FRANCISCO(Reuters) - Many U.S. semiconductor stocks tumbled again Thursday, amid more bearish comments on Wall Street and views that the current industry slump is not expected to turn around anytime soon. On Wednesday, three chip companies had disappointing earnings news, with LSI Logic Corp. and National Semiconductor Corp. pre-announcing lower-than-expected third-quarter earnings. Another chip maker, Analog Devices Inc. , reported a much worse-than-expected third quarter. At the same time, Merrill Lynch analyst Tom Kurlak downgraded the world's largest chip maker, Intel Corp. and Texas Instruments Inc. "Little growth in orders at major electronics OEMs (original equipment manufacturers) including companies such as Hewlett-Packard Co., International Business Machines Corp. and Tektronix Inc., do not argue well for a semiconductor recovery," Kurlak said in his note on Texas Instruments, which he downgraded to "accumulate" from "buy." Semiconductor stocks were falling across the board, along with the broader market which was shaken by the news that the United States had bombed "terrorist-related" bases in Afghanistan and Sudan, which are believed to be behind the bombings of the two U.S. embassies in Africa last week. Intel tumbled $3.56 to $86 on Nasdaq, where it the most active issue. National Semi dropped $2 to $11.56, Micron Technology Inc. lost $2.124 to $32.19, LSI Logic eased 69 cents to $15.125, Analog Devices fell $1.69 to $19.75, Texas Instruments slid $1.625 to $58.875 and Advanced Micro Devices Inc. slipped $1 to $17.81, all on the New York Stock Exchange. "There is nothing good coming out of them," said one technology trader. "The overall feeling is they have been beat up pretty badly but they still have a little bit more to go." On Wednesday, LSI Chairman Wilfred Corrigan said in a statement that the current three-year industry downturn is the longest-running slump the industry has seen. "Yes this is the longest downturn," said Mark Edelstone, a Morgan Stanley Dean Witter analyst, adding that he believes there is some turnaround for companies that supply to the PC market. "Even National, which is struggling, has seen a big uptick in orders to the PC industry in the last three weeks. Those companies that are better positioned, like Intel, can show better results in the third and fourth quarters." But Kurlak said that based on the mix toward lower-priced products, shortages of low-priced processors and ample supply at the high-end, he believes Intel's third-quarter sales could fall short of expectations. Intel is expected to introduce its next version of its Celeron chip for the low-cost PC market Monday, code-named Mendocino. Kurlak pointed out in his note that Celeron and the low-priced Pentium II chips are among Intel's fastest-growing processors, popular in the shift to lower-priced PCs.

To: John Ritter who wrote (4141)	8/20/1998 7:33:00 PM
From: Susan Saline	Read Replies (1) \| Respond to of 6565

>>>LSI late yesterday, has drifted down somewhat. Hi John ... been a while :o) hi ya I have been following LSI for months. thought 20 would allow great entry ... wrong! looking at a 5 yr chart ... suggest excellent support at 15 It will not go lower <jmho> and actually ... had today been a better day for the DOW ... it more than likely would have closed above/near 16.00 the buyers were there ... but the weak DOW scared them all away An excellent buy and hold for 6 months stock ... IMO If I can raise some extra fun tickets ... will be entering myself soon. The margin calls ... whew .... so many ... they are written up in USA Today!! all us poor baby traders :o( later, Sue