7:42AM Morgan Cuts Semi Capex : Morgan Stanley cuts semi industry capex forecasts to -35% in
2001 and a decline of 5-10% in 2002; still sees trough soon but expects a slower recovery following Sep
11 attacks. Cuts price targets on many semi equipment names, here's a sample: AMAT 70 to 40, KLIC 22
to 15, KLAC 70 to 45, LRCX 40 to 25, NVLS 70 to 40, TER 50 to 30, VSEA 70 to 35, KLIC 22 to 15.
2001 and a decline of 5-10% in 2002; still sees trough soon but expects a slower recovery following Sep
11 attacks. Cuts price targets on many semi equipment names, here's a sample: AMAT 70 to 40, KLIC 22
to 15, KLAC 70 to 45, LRCX 40 to 25, NVLS 70 to 40, TER 50 to 30, VSEA 70 to 35, KLIC 22 to 15.