Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 316.33

+1.3%

Dec 10 4:00 PM EST

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To: Return to Sender who wrote (7005)	11/21/2002 7:47:27 PM
From: Donald Wennerstrom	Read Replies (4) of 95561

Well, I just had to make a note here today about the "market" and how it is responding to brokerage house comments with respect to the semi-equips. As you have already reported today RtS, Bank of America securities had this to say about the semi-equips. <<* 08:20 ET BofA would not chase semi equipment rally : Banc of America says that sharp declines in chipmakers' profitability due to excess capacity and a collapse in pricing suggests a slow recovery in capex investments; believes the trajectory and size of the semi equipment industry recovery will fall short of the cycles in the 1990s, and the current rally seems to be discounting much of the potential good news of the next several years; firm does not advocate chasing the current rally.>> Now let's look at what happened today. There are 28 stocks in the Group as every one knows by now. Of these 28 stocks, 7 were up over 10 percent today(far too many people who invest in the stock market don't make 10 percent in a year, let alone a day), and only 2 out of the Group, NANO and TGAL were in the red for the day. Two of the stocks, KLIC and ASYT, were up over 20 percent for the day. The entire Group was up over 8 percent for the day. The SOX was also up over 8 percent today. The big difference between now and a couple of months ago is that the comments of today by B of A would have sent the Group and the SOX down 8 percent instead of up over 8 percent. Do you suppose the brokerage houses and analysts have become irreverent(or should that be irrelevant?)<gg> Don

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