Chip market branded 'awful'

Makers of machines for chip makers wring their hands in frustration...

The ailing chips market received another blow yesterday as Goldman Sachs released a report saying it didn't expect an upturn for semiconductor equipment makers until the middle of 2002. Investment bank Goldman Sachs downgraded a number of semiconductor equipment firms, and described the current state of the market as "awful". Semiconductor equipment firms make the tools used in semiconductor labs to build chips. Goldman Sachs analyst James Covello said the severity of the downturn meant it will take longer for equipment makers to recover when semiconductor sales finally do pick up. He added he did not think the HP takeover will impact the market. For related news, see:
Chip firm goes cap i