Paul, Intel investors, Applied Materials had some interesting slides to show on the semiconductor industry at their annual shareholders meeting today. For once, I didn't take notes, not having brought writing materials, because I know just enough about the semi equip business to be dangerous. Wouldn't you know that most of the emphasis was on semiconductors themselves, and their growth, on whose coattails, of course, AMAT rides. One of the posters on the AMAT thread who was there said he asked Morgan (CEO) if the slides could be put on the web, Morgan said yes. I'll keep an eye out and point to the interesting to Intel ones. One of the most impressive was on "electronics" growth through the year 2003, and semiconductor growth over the same period. The former was in single digits, but semi growth was way up there, as I recall, making projected semi sales in 2003 three times that of 1998. Working back, the annual growth rate had to be well into the twenties. Like I said, I'll bring the good stuff over here. Anyway, the meeting further emphasized to me that my semiconductor investments, and AMAT, are keepers.
Tony |
