11.09.2001
Results coming in well on track

• Oct. revenues came in at NT$10.4bn, in line with our NT$10bn-11bn forecast. Monthly sales were firm’s second ever highest, reflecting 10.8% MoM and 47% YoY upsurge. Oct. NB PC shipments of 421k (monthly record high) was slightly behind our estimation of over 430k. Firm suggests Nov. NB shipments could improve in a range between 420k-430k, while Dec. NB output may fall slightly to 400k. We forecast 9% sequential growth for 4Q NB shipments. We reiterate our Accumulate recommendation on firm’s leading position and growth momentum expected for both 4Q01 and next year.