Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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From: etchmeister	2/24/2011 5:51:54 PM
	1 Recommendation Read Replies (1) of 25522

I believe One needs to break down the Book to Bill into front end and back end. Clearly front end is in the driver seat. Even a flat to slightly up 2011 scenario would imply overall bookings would have to go down before reversing but it seems front end capital equipment companies outperform (significantly) - and that makes sense - remember a lot of money was spent on converting to copper and capital intensity is not "linear" relative to node. Over and over it was discussed that the capital intensity was going to decline and boom here we suddenly go and capital intensity is up.

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