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|  | JULY 1, 2004
 WORD ON THE STREET Jaffray Is Cautious on Amkor Technology Analyst Jesse Pichel notes the chip-packaging company's marketshare loss Jaffray remains cautious on Amkor Technology (AMKR ). Analyst Jesse Pichel says the weaker outlook reflects a loss of market share in high-end micro lead frames to rivals Chippac and Advanced Semiconductor Engineering, which have more competitive offerings. He says Amkor is also losing share of the stacked-packages market, in which Chipac leads in technology and resources. Pichel says Amkor has a large capacity in the low-end plastic ball grid-arrays market, but gross margin in this business is 20 basis points below the high-end businesses. He says Amkor is trying to be the "supermarket of packaging," but it's unable to maintain high margins and the problems are company-specific. He's also reviewing his market outperform rating and earnings estimates.  All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report. Standard & Poor's Regulatory Disclosure Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc.
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