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To: DJBEINO who wrote (40702)	11/5/1998 11:56:00 AM
From: Carl Held	Respond to of 53903

09:20 ET Needham Cuts Semis: Needham & Co lowering its rating on several chip makers: Firm downgrades National Semiconductor (NSM) and PMC-Sierra (PMCS) from "strong buy" to "buy," while cutting Analog Devices (ADI) and Advanced Micro Devices (AMD) from "buy" to "hold."

To: DJBEINO who wrote (40702)	11/5/1998 2:32:00 PM
From: Carl R.	Read Replies (1) \| Respond to of 53903

So the Koreans will all be profitable this quarter? MU will be too. Remember, they are the low cost producer. <VBG> If not for the TI deal, I think that they would make a very sizable profit with improving yields due to the shrink to .21 combined with stronger pricing. By my rough calculation they should do about $200-250 million better this quarter than last, and perhaps better if they are selling a lot of chips on the spot market. Even the TI part of the company will fare better with higher prices, but I have no idea how many write offs MU will take. Carl