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Technology Stocks : Semi Equipment Analysis

SOXX 301.15

-1.2%

Dec 31 4:00 PM EST

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To: Donald Wennerstrom who wrote (36150)	10/8/2007 9:41:48 PM
From: etchmeister	Read Replies (1) of 95656

Etch, One of the problems with the "poor" performance of the SOX is the lack of earnings growth. On the other hand earnings for chips including equipment are far more robust. Here's how it worked in the past: get a sharp downturn; stocks get trashed like there is no tomorrow; back up the truck and load up...that's what the blood thread was all about. But look what happened to global IC sales (over the last three years) - no sharp pull backs although certain segments within the group can do better than other temporary (NAND flash vs DRAM). The pull backs offered opportunity. But now only boring moderate, steady relatively low growth without severe pullbacks. Wonder what the "earnings growth distribution" is of all NASDAQ listed companies; it's probably confined to a number of companies like AAPL and RIMM et al - coincidentally AAPL benefits greatly from chips and probably also RIMM.

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