Yahoo and Microsoft are talking again. Funny how that happens every time Yahoo is about to lower guidance.
Seagate guides higher commensurate with a $430 mil offering. They also guide the following quarter higher. Anecdotally positive for the PC industry, where restocking orders have been bolstering component demand.
Taiwan Semiconductor reported March sales ahead of their prior guidance, showing an 18.4% m/m gain, bringing the quarter in at down 39% q/q versus their guidance of down 41-44%. Digitimes reports accelerated order trends from Altera, AMD and Nvidia are driving near-term 12 inch fab expansion. Citi, in a buy reiteration piece, suggests capex will come in down 20-30% y/y from last year’s 1.8 bil. Semicap companies are generally suggesting declines of 40-50% for 2009 so this would be better than the mean for the industry at large.
Robert Reich writes that our economic woes aren’t almost over and says they may have barely begun.