'..any nitwit could have seen that a long time ago.'
Excerpted from an interview with Gunnar Miller, Semiconductor Equipment analyst at Goldman Sachs (http://www.fortune.com/fortune/allstars/snap/0,6613,49237,00.html via AMAT and TER threads)...
>>Miller, whose 1999 stock picks gained a remarkable 204%, has a flair for being direct, if not downright brusque. When he says that equipment makers, still recovering from the 1997 Asian economic meltdown, will see a surge in purchasing that propels stocks through 2001, his tone implies that any nitwit could have seen that a long time ago. This cycle, he explains, will be more robust than ever because of the ferocious need for silicon chips in everything from cell phones to clock radios.
He calls the trend the "consumerization of semiconductors" and asserts that demand for new chips will be driven not by PCs but by moderately priced electronic devices that were unthinkable only a few years ago. This will allow the equipment sector to post 20% annual revenue growth for years to come, Miller says. <<
Based on recent experience in this neighborhood, there's certainly no shortage of nitwits flitting around the equipment stocks. |
