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gfs_1999

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gfs_1999

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Re: Zeev Hed post# 54915

Friday, 12/13/2002 9:50:31 AM

Friday, December 13, 2002 9:50:31 AM

Post# of 704048
The chips are under a bit of pressure this morning. Texas Instruments (TXN:NYSE) was cut to sell by Deutsche and JP Morgan said it is looking for a "trough valuation" for the SOX of 210 to 235, which are the lows we hit back in October. JP Morgan believes that lack of a "killer app" is the real problem for the sector. "Growth is slowing for semiconductors ... Year-over-year semiconductor growth will be, at best, half of its historic 17% growth rate."

It looks like tough sledding out there this morning.



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