A Dip In Chips?

Maybe not. Asia's crisis could barely dent U.S. companies

Chipmakers in the U.S. are getting beaten up on Wall Street these days. Since October, the Philadelphia Stock Exchange's semiconductor index has plunged more than 30%, largely on fears that Asia's financial El Nino will wreak havoc in Silicon Valley. On Jan. 21, Texas Instruments Inc. provided fresh evidence of profit pressures when it reported lower-than-expected earnings due to plunging prices during late 1997 and warned that Asia's woes would "put pressure" on the company's first-quarter results.

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