Mar 2, 2005

Continued Focus on Semiconductors


U.S. stock-index futures fell, as shares of Intel Corp. declined amid concern about a slowdown in the semiconductor industry.

Novellus Systems Inc., a chip-equipment maker, dropped after saying Japanese demand may weaken.

Computer-chip makers may slow worldwide spending this year to $44.1 billion after additions to production last year resulted in excess capacity, according to a report today by market researcher ISuppli Corp.

The semiconductors did not manage to breakout to the upside yesterday and look set to fail today. I am watching the recent low in KLAC (near $47) to gauge the weakness.

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