A good report from AMAT would get the semi-equip Group going again.
The NASDAQ was up 21.35, or 1.7 percent today, while the Group was up 0.03, or 0.01 percent! From a long term average perspective a Beta of about 2 can be used for approximate correlation. That means the Group should have been up about 3.5 percent today but obviously it was really dragging.
I think AMAT needs a good reception from its report next week, otherwise it might be a long 3 months until the next report.<ng>
Out of the performers in the Group today, KLIC was in next to last place with a 3.9 percent drop. Only PHTN with a 7.2 percent drop was lower in last place.
I don't know KLIC's specific problem, if there is one, but in the last 16 trading days since the close at 12.06 on 7/16, at todays close of 5.23, the stock is down 57 percent. I haven't looked to see if that is the worst performance over that period, but it certainly is one of the worst.
<<Anyone want to nominate a few other stocks in the group that might be more indicative of future fortunes for the group?>>
In order for the fortunes of the Group to turn around, I think the leaders like AMAT, KLAC, NVLS, LRCX, etc, must find their "footing" again in the market's eyes. A positive report from AMAT next week would go a long way towards achieving that goal.
Don |
