Axcelis Technologies, Inc. (ACLS) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Axcelis Technologies, Inc. (ACLS)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Big Dog who wrote (26)	7/21/2000 6:42:44 PM
From: Big Dog	of 195

From Merrill Lynch... Investment Highlights: • The semiconductor capital equipment book-to-bill for the US preliminary results came out at 1.26 down slightly from 1.28 in May. The ratio declined more from an acceleration in shipments than from slowing orders. • Overall orders grew 1% month to month and 17% quarter to quarter. Shipments slowed to 3% growth month to month but grew 28% quarter to quarter versus 9% growth in the first quarter. • Front-end (AMAT, KLAC, LRCX, NVLS …) orders were strongest up 5% month to month for an increase in book-to-bill from 1.28 to 1.32. Front end orders actually accelerated from 2% growth in May. Front-end orders growth rate also increased year over year from 76% in May to 83% in June. • Back-end (TER, KLIC, CMOS …) orders were down 10% month to monthfor a book-to-bill decrease from 1.28 to 1.09. This was in-line withTeradyne’s recent results of a book-to-bill of 1.09. • The slowing in overall order rates has been well expected as month to month and quarter to quarter comparison have become much more difficult. Investors should be aware that the absolute trend of orders is a much stronger indicator of stock direction than changes in growth rates. The stocks have taken a significant correction with the average P/E dropping to l8x 2001 from the peak of 30x at the end of the first quarter. We believe this presents a buying opportunity as the outlook is for continued order growth in the second half and beyond. Bulletin United States Semiconductor Capital Equipment 21 July 2000 Brett Hodess

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next