Larry, but today, the SMH came crashing down, and set a new low. AMAT broke the April lows and then some...This breaks indicates to me that the semi cycle is in the process of peaking, despite what the press is reporting om shortages of DRAM, CPU, Flash etc. Maybe the industry once more stepped on its own petard, believing those stories, they are engaging in double ordering.
The semi cycle often peaks shortly after the semi equip BTB peaks, well, it has been hovering around 1.4 for few months now, how much higher can it go?
Zeev |
