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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 141.84-4.7%1:59 PM EST
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To: Ian@SI who wrote (7908)6/7/1999 9:05:00 PM
From: Zeev Hed  Read Replies (1) of 10921
 
Ian, the only problem with that model is that it leads to a financial paradox. When you have margins like INTC, near 50% yes, you can afford those sprees, but most (particularly the DRAM makers) are working on much thinner margins and thus must find ways to limit capex to smaller percentage of sales. I doubt that the peak of the next cycle will see gain capex as percentage of sales exceeding 30%, but that is what makes a market is it not?

Zeev
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