Jan-04 08:01 Morgan Stanley raises 2004 capex forecast; previews Semi Equip earnings
Morgan Stanley believes that fundamentals in Semiconductor Capital Equipment have improved significantly since guidance was provided in Oct/Nov, and thus firm sees upside to guidance for most companies in the space; sees a 15-20% increase in bookings across the board, followed by guidance for another 20% bookings growth in 1Q04. Firm sees most of the upside in 4Q03 coming from Asian chipmakers. Raises its 2004 capex forecast to $38.8 bln, up 30% y/y and higher than firm's previous forecast of 20-25%.
Well, I got to go, and AXYX refused to take out $7 (trading few there), I got out here at $6.90, much less than planned. I have an order to get back in around $6 if it gets there during my absence. See you guys around lunch time. Also taken QCOM off here at $60.44. Not wanting to risk a swoon don, have a reentry bid about $2 lower.
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