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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (4134)	1/10/1999 2:01:00 PM
From: Scotsman	Read Replies (1) \| Respond to of 4697

Chip sales climb in November By Reuters January 8, 1999, 8:55 p.m. PT Worldwide sales of semiconductors rose 4.8 percent to $11.38 billion in November from $10.86 billion in October, the strongest showing since December 1997 and the latest sign that the industry is pulling out of its worst slump in a decade. Chip sales had bottomed in July, and 1998 will close out stronger than expected, the Semiconductor Industry Association said today in its monthly report. "November is the third consecutive month of strong chip growth, reversing a trend of sluggish sales, which bottomed in July this year," SIA president George Scalise said in a prepared statement. "Fourth-quarter sales are surpassing our expectations and point to a stronger close for 1998 than what was anticipated." A rally in the Japanese and Asia-Pacific markets helped propel the November increase. According to the SIA's Global Sales Report, sales in the two regions climbed 7 percent and 4.8 percent, respectively, aided by a rally in the Japanese yen. In the Asia-Pacific region, Christmas kicked off strong PC sales, boosting sales for motherboards, of which Asia-Pacific (Asia except for Japan) is the leading producer. Chip sales in Europe also soared in November, rising 7.3 percent from October. Optimism over Europe's new currency, the euro, translated into capital spending in November, bolstering the European economy. In the Americas market, sales continued a steady increase, climbing 2 percent. The October-November upswing is the biggest October-November jump since 1990. Story Copyright © 1999 Reuters Limited. All rights reserved. Related news stories