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To: Joey Smith who wrote (67962)	11/6/1998 12:56:00 PM
From: Tony Viola	Read Replies (2) \| Respond to of 186894

Joey, re:Peck & Kurlak...2 peas from the same pod Check out the wacky report from Peck below. Lots of alliteration and exaggeration. Alliteration in the bold part, exaggeration in the italicized parts. Is this guy always such a poor writer? (we know he gets his conclusions wrong on Intel, I'm just talking about good old English 101 here). Well, he might have gotten the part about elasticity right. Regards, Tony Special Edition of The Wall Street Transcript on Electronics and Semiconductors BusinessWire, Wednesday, November 04, 1998 at 12:58 NEW YORK--(BUSINESS WIRE)--Nov. 4, 1998--The Wall Street Transcript has just made available an 88-page special edition produced for the October 1998 SG Cowen Conference on Electronics and Semiconductors. Featuring in-depth interviews with two top analysts and 21 of the major companies in the sector, it offers an excellent current review of the sector: 1) Two extensive interviews with top SG Cowen Securities on major semiconductor topics of interest to investors: Semiconductor Industry Outlook - Drew Peck. Describing the current environment for semiconductors, Peck says: "We are in the midst of a traumatic transition stemming from the plunge in PC pricing during the past 24 months. Deflation has been a hallmark of the semiconductor business since its inception, but at the moment, it's nearly out of control." Looking forward, he sees volume responding to the lower prices "ultimately we're going to see an elastic response. The more price-sensitive markets, especially overseas, are ripe; we could see a sharp boost in the adoption of both commercial and consumer PCs. That means unit demand may offset the erosion in pricing at some point." However, he emphasizes the growing presence of semiconductors in all electrical products: "We are now beginning to see the migration of the technology that made the personal computer possible into a wide array of applications that everyone uses everyday. The real opportunity lies in the transparent application of extraordinary processing power to prosaic products. Few users will ever be aware of the supercomputing power in their 1999 model refrigerator or air conditioner, but they'll be well aware of the 15% improvement in efficiency."