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[Milken10]

wenns jetzt nicht abgeht.......

China Status Boosts Semiconductor Industry
May 24, 2000
by Cherie Payne

Within minutes of Congressional approval today for the China Trade Bill, some Asian-based companies saw their share prices and trading volumes begin to spike in after-hours trading.

China.com (NASDAQ: CHINA), a Hong Kong based pan-Asian Internet company, gained 3 7/8 on volume of 80,000 in after hours trade. Applied Materials (NASDAQ: AMAT), a Santa Clara, CA, semiconductor maker enjoyed volume of 130,000 less than 20 minutes after the vote. Both companies had more than double normal trade volume throughout the day.

It’s a clear harbinger of things to come, according to industry observers.

After two days of debate, the House of Representatives voted to grant China permanent trade status about an hour after Wednesday’s close, in a 237 to 197 vote.

The Semiconductor Industry Association (SIA) said granting China permanent normalized trading relations status was the number one legislative goal for the semiconductor industry, which is a $76.6 billion industry. The chip industry as a whole employs some 284,000 Americans.

The semiconductor market in China is worth about $8 billion per year, and is expected to become the third largest semiconductor market in the world by the end of the year – larger than Japan - and the second largest by 2010, the Association said Wednesday.

Anne Crab, Director of International Trade at the SIA said today’s vote will create increased opportunities for small cap companies.

"Bigger companies have had more resources, typically, to deal with some of those challenges and hurdles [such as tariffs, language barriers, and strict government regulation in China]. I really think that for small companies, this will open up tremendous amount of opportunity for small companies," Crab said.

"I would think this would be very good for them, because they don’t have such a tremendous staff, [and resources]."

The SIA said Wednesday they were surprised at the number of concessions the U.S. won from China.

"We had six priority issues going into the negotiations, and to be perfectly blunt, we had expected to lose at least one of them, simply because the negotiation is a give and take," said Crab. "We got every single one of the six, and they’re strong."

Chief among these concessions, is that China agreed to eliminate its tariffs on semiconductors by Jan 1, 2002, said Crab. China will also grant full protection for intellectual property rights, and the government has agreed to eliminate the requirement that foreign companies use a Chinese government-designated distributor.

"Previously, if you wanted to sell in the Chinese market, you were required to go there and invest. Now, the Chinese government will no longer be able require you to make investments, or transfer technology in order to access the Chinese market," Crab explained. "This makes it possible for us to manufacture things here and send them there, which was not possible before."

"This is a clear economic win for the United States. Today`s vote will open China, the world`s largest emerging market to American goods and services, creating American jobs and increasing U.S. exports," agreed SIA president George Scalise.

According to the International Trade Commission there will be a 14% growth rate in sales of U.S. electronic equipment in China. Sales totaled $283.6 million in 1998.

The following small caps, both semiconductor manufacturers and the companies that service them, may stand to gain from Wednesday’s announcement:

American Xtal Technology Inc. (NASDAQ: AXTI) saw first quarter revenues rise 27% to $23.9 million, with profits totaling $2 million, up from a loss of $985 thousand the year before. The stock gained 7/8, or 2.6%, to close at 34 1/2 Wednesday, before the House vote.

IXYS Corp. (NASDAQ: SYXI), which posted fourth quarter earnings of $2.375 million on revenues of $22.546 million. The stock lost 2 3/16, or 11%, to close at 17 5/8 before the House vote.

XICOR, Inc. (Nasdaq: XICO) posted first quarter earnings of $4.02 million, on revenues of $32.14. XICOR fell 7/32, or 3.93%, to 5 11/32 on average volume Wednesday.

Therma-Wave Inc. (NASDAQ: TWAV), which makes process control equipment for the manufacture of semiconductors, gained 3 1/8, or 20%, to 18 3/4 Wednesday.

Brooks Automation, Inc. (NASDAQ: BRKS), makes vacuum robots for the semiconductor industry, and Rudolph Technologies (NASDAQ: RTEC) makes process control equipment for the semiconductor industry. Brooks shed 7/8, or 1.69%, to 50 3/4 on above average volume of 386,100 Wednesday, while Rudolph lost 2, or 7.69%, to 24, on volume of 121,500.

[Milken10]

Der zweite Down-Turn der NASDAQ ist wahrscheinlich abgeschlossen. In beiden Abwertungsrunden der amerikanischen Technologiewerte zeigten die Halbleiter zunächst relative Stärke - bis die "Branchenrotation" am Ende eines jeden Zyklus schließlich auch sie erfasste.
Nachfolgend finden Sie den ersten Teil einer Aufstellung der US-Halbleiterwerte mit einer Marktkapitalisierung bis 7,5 Mrd. US-Dollar. Der zweite Teil erweitert die Liste um Werte bis herunter zu 1 Mrd. US-Dollar Marktkapitalisierung. Im dritten Teil knöpfen wir uns die Chip-Equipment Branche vor.
1. Zeile: Unternehmen (Kürzel)(GJ-Schluss):_Marktkapitalisierung (Mrd.)__Umsatz im letzten vollen GJ (Mio.)__EPS verg. GJ_EPS lfd. GJ_EPS nächstes GJ__KGV lfd. GJ_KGV nächstes GJ
2. Zeile: Unternehmen (Kürzel):_letzter Schlußkurs__52-Wochen Hoch_52-Wochen-Tief
Alle Wertangaben in US-Dollar
"GJ" - Geschäftsjahr
Die KGV’s sind nicht annualisiert
Quelle für die meisten Angaben: Zacks
Intel (INTC) (Dez):_393__29.400__2,11_3,03_3,51__38,7_33,5
Intel (INTC):_117,4__145,4_50,1
Texas Instr. (TXN) (Dez):_112__9.470__1,68_1,21_1,56__56,5_43,9
Texas Instr. (TXN):_68,4_99,8_26,3
Micron Techn. (MU) (Aug):_ 33,5__3.760__-0,13_1,82_3,37__33,1_17,9
Micron Techn. (MU):_60,3__72,4_17,1
Broadcom (BRCM) (Dez):_27,8__518,2__0,36_0,78_1,06__165,4_121,7
Broadcom (BRCM):_129__253_40,9
Analog Devices (ADI) (Okt):_23,5__1.450__0,54_1,26_1,75__52,7_37,9
Analog Devices (ADI):_66,4__94,7_17,4
Xilinx (XLNX) (Mrz):_21,0__662,0__1,90_1,10_1,43__59,5_45,7
Xilinx (XLNX):_65,4__88,4_19,5
PMC-Sierra (PMCS) (Dez):_19,7__262,5__0,60_0,80_1.14__169_118,7
PMC-Sierra (PMCS):_135,3__255,5_21,1
Linear Techn. (LLTC) (Jun):_16,4__506,7__0,61_0,86_1,11__61_47,2
Linear Techn. (LLTC):_52,4__62,5_24,3
Maxim (MXIM) (Jun):_16,4__607,0__0,64_0,87_1,17__66,5_49,4
Maxim (MXIM):_57,8__74,5_24,5
Altera (ALTR) (Dez):_16,0__273,0__0,36_1,69_2,29__47,6_35,1
Altera (ALTR):_80,4__108_30
LSI Logic (LSI) (Dez):_14,0__2.090__0,91_1,23_1,75__37_26,1
LSI Logic (LSI):_45,6__90,4_16,8
Appld Micro (AMCC) (Mrz):_11,1__172,0__0,41_0,77_1,06__121,5_88,3
Appld Micro (AMCC):_93,6__158,8 _12,7
Adv Micro Dev. (AMD) (Dez):_11,1__2.860__-0,60_4,69_4,40__15,5_16,4
Adv Micro Dev. (AMD):_72__92,8_15,4
Natl Semicond. (NSM) (Mai):_8,81__1.960__-6,04_1,50_2,72__33,3_18,3
Natl Semicond. (NSM):_49,8__85,9 _12,3
RF Micro Dev (RFMD) (Mrz):_7,69__289,0__0,58_0,84_1,17__114,7_82,4
RF Micro Dev (RFMD):_96,4__184,5 _19,0
Conexant (CNXT) (Sep):_7,59_1.440__0,06_0,90_1,14__38,8_30,6
Conexant (CNXT):_34,9__132,5_17,0
14:40 25.05, Klaus Singer © wallstreet-online GmbH

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Xicor (XICO) (Dez):_0,12_112__-1,01_0,55_0,85__10_6,5
Xicor (XICO)_5,25__26,25_1,375