Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 235.13

+2.2%

Nov 10 3:59 PM EST

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To: Katherine Derbyshire who wrote (26540)	11/20/1998 11:24:00 AM
From: Jeffrey D	Read Replies (1) of 70976

Katherine, the following is a BTB analysis from Credit Suisse this morning. Note that back end BTB remained weak and test and assembly dipped 5%. Could you please provide an example of a company or companies that do business in these two areas? thanks, Jeff Semiconductor Capital Equipment Kathryn Buergert kath October Book/Bill Benefits From Tech Buys At Front-end Leader · October's book/bill was 0.73, up sharply from 0.56 in September -- in line with our expectations following Applied Materials' strong fiscal Q4 orders. Front-end bookings rose 48% sequentially.· Test & assembly orders dipped 5%, and the back-end book/bill remained weak at 0.60. With little slack in test capacity, any acceleration in IC unit volume may increase orders sharply. · Spending gridlock may continue until chipmakers are confident that firming IC prices are more than a seasonal trend. Excepting special cases (Intel ramping 0.18 production, Micron upgrading TI facilities), utilization rates may have to top normal 80% to induce orders this cycle. Further order upside may stem from positive 1999 IC forecasts, following solid PC sell-through in the December quarter Applied Materials (AMAT): $38 Micron (MU): $43 BUY

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