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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (7339)	11/20/1998 10:56:00 AM
From: orkrious	Read Replies (1) \| Respond to of 10921

Ian, Needham's upgrades are almost certainly due in large part to the PRIA conference call last night. I am not sure what Needham's current rating on PRIA is, but isn't it surprising that they didn't upgrade PRIA or at least reiterate it if they already have it as a buy? Jay

To: Ian@SI who wrote (7339)	11/24/1998 10:18:00 PM
From: lrrp	Read Replies (1) \| Respond to of 10921

Ian, hope you are well and you have not had reverse whiplash from this momentum run; but I remember a time when we talked about the perils of bottom fishing, and when it might be time to sell? you thought there would be plenty of this talk when the time comes> But so far there is very little, some of (aleast to me the clearest minds on the semi threads are lightening up, ie John G, Justa--and other J's who lightened earlier! ) since we both know bottom fishing is a risk, ie asyst; holding during this time of fundamental disconnect is also-- the question is-- who wins , psychology and/or envisioning the future earnings stream, fed rates down--Bullish------ vs fundamentals, (PSRs, etc) , sentiment, Bearish to neutral-- your thoughts if possible--ps; Im lightening up --thanks again!!!

To: Ian@SI who wrote (7339)	11/26/1998 8:20:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 10921

Hitachi, Mitsubishi reel from chip slump, economic woes 04:59 a.m. Nov 26, 1998 Eastern By Yuko Inoue TOKYO, Nov 26 (Reuters) - Leading Japanese general electronics firms Hitachi Ltd and Mitsubishi Electric Corp on Thursday reported huge first-half group losses, hit by a slump in chip prices and economic doldrums in Japan and emerging markets. Both firms said sales diminished in all of their businesses -- information, telecommunications, industrial machines, power plants, semiconductors, consumer electronics and basic materials -- as Japan struggles through its worst postwar recession. ''We have never had such an across-the-board, rapid sales decline,'' Hitachi's senior managing director Yoshiki Yagi told a news conference. ''Even at the time of oil shocks in the 1970s, we could find one or two bright spots.'' Hitachi, once supreme among general electronics companies, making everything from washing machines to nuclear power plants, reported a 142.23 billion yen ($1.16 billion) group net loss for the six months to September 30. The group said the outlook for the second half to next March was no brighter, and predicted a group net loss of 250 billion yen for the full year. Hitachi early in September announced a freeze in capital spending, job cuts, consolidation of units and other restructuring measures in what president Tsutomu Kanai called ''the biggest crisis'' in its history. Yagi said an operating loss stemming from the semiconductor business would balloon to 110 billion yen this business year from 70 billion yen last year due to severe price deterioration in the memory chip market triggered by a global glut in chips. He added, however, that an improvement in chip prices since last month may help its business later this year. The Semiconductor Industry Association of the United States says the memory chip market should hit bottom this year, with sales falling 25.7 percent to $21.8 billion. It predicted the market will bounce back 18.1 percent in 1999 to $25.8 billion. Yagi said sagging prices of computer displays and liquid crystal displays and sluggish demand for electric power plants at home also dealt a blow to business. In the past, Hitachi has mustered strong profits in its lucrative power plant division or heavy industrial machinery to cover losses in other divisions. But deregulation allowing companies to sell their surplus electricity to electric power companies prompted power utilities to sharply cut their capital spending, which hurt Hitachi and other comprehensive electronics makers. Hitachi is the the world's biggest maker of bipolar-based mainframe computers and has built a solid customer base among Japanese financial institutions. But it has struggled to develop new growth products such as computer software and services. Mitsubishi Electric said its group net loss widened to 31.7 billion yen in the first half from 26.1 billion yen in the same period a year earlier. It said it expected to post a group net profit of 20 billion yen for the full year, helped by a special profit of 80 billion yen from the sale of land and shareholdings. Managing Director Michiyasu Hirahara said a sharp fall in its factory automation equipment in the first half surprised the company. ''Automakers and semiconductor makers have squeezed their capital spending, depressing demand for such machines,'' he told a news conference. Mitsubishi expects operating profit from the sector to decrease 20 percent in 1998/99. Mitsubishi's affiliate Optec Dai-Ichi Denko Co Ltd said on Thursday it would receive support worth 18.1 billion yen from Mitsubishi this business year. ($1-122) ((Tokyo newsroom +81 3 3432-8595 yuko.inoue+reuters.com)) Copyright 1998 Reuters Limited.