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(From Israel Business Arena)
Byline: Shlomi Cohen
If anyone was looking for a miraculous jar of oil to keep the expected Hannukah stock market rise going, Merrill Lynch supplied it yesterday. The investment house's wireless analysis team raised its 2003 cellular telephone sales forecast from 410 million to 475 million telephones. This 15.8% difference is very significant, not only for manufacturers like Nokia (NYSE: NOK), Ericsson (Nasdaq: ERICY), Sony Corp. (NYSE: SNE), and others, but also for the chip manufacturers. Merrill Lynch believes that 15-20% of the entire global chip industry's sales are to cellular telephone and infrastructure manufacturers. If …