09.10.2001
Foundry monthly revenues bottom out

• Development: TSMC and UMC announced August revenues of NT$9.03bn and NT$3.90bn, respectively, reflecting MoM increases of 5% and 1%.

• Analysis: Both companies tout a better business outlook thru the rest of the year as seasonal strength materializes. Hence, monthly revenues of the local foundry sector have bottomed out in the current quarter. However, uncertainty remains high for 1H02 once seasonal downturn returns for the foundry sector.

• Primasia View: We maintain our current estimates and ratings on both counters.