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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Demosthenes who wrote (30263)	5/18/1999 12:27:00 AM
From: Jeffrey D	Read Replies (1) \| Respond to of 70976

Sue Billat reiterates buy on TSMC with words like TSMC is "operating at full capacity" and TSMC "continues to spend aggressively on high end equipment." You gotta love those foundry guys! Jeff Story Filed: Monday, May 17, 1999 1:13 PM EST SAN FRANCISCO, May 17 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens managing director and senior semiconductor equipment analyst Sue H. Billat today reiterated her Buy rating and raised estimates on Taiwan Semiconductor Manufacturing Company (NYSE: TSM). TSMC, headquartered in Hsinchu, Taiwan, was founded in 1987 as the first pure integrated circuit IC foundry. "We are reiterating our Buy rating on TSMC, and raising our 1999 and 2000 estimates to $0.54 (from $0.46) and $0.75 (from $0.61), respectively," said Billat. "We believe that the company is operating at full capacity on an ever-growing installed base and that demand from networking and communications device makers is surging. "In response to the strong demand, TSMC has raised its planned 1999 capital spending budget to $1.22 billion. In our view, the company leads the foundry sector in 0.18 micron capability and continues to spend aggressively on high-end equipment," said Billat.