Intel reduced guidance ranges for 3Q and withdrew all forecasts for FY12, including FY12 cap-ex guidance.
In a research note relating to Intel's announcement last Friday, ML-BAC commented that: "Lithography spending should remain robust at 14nm. [Intel] management expects to accelerate the re-use of existing equipment for the transition from 22nm to 14nm manufacturing (we think the re-use could be ~50%). While this could be viewed as broadly negative for capacity-related names . . ., we expect Intel's use of multiple patterning at 14nm should continue to benefit ASML and CYMI. The move to the 14nm node should also benefit technology enablers, like KLAC and UTEK."