ay, nice BTB, but when looking at the details, it seems that for the last five months shipments have been staying on their back, in the first quarter shipment where only about 2.7 Billions, if we continue at this rate we will have only 10.7 Billions in shipments all year. What concerns me is that booking have gone over the billion mark for few months, but shipments are not increasing markedly (the last quarter seems to be below the quarter before, not a good sign for earnings).
Note that most peaks in the semi equip occur within a quarter or two of reaching BTB values above 1.25. Are we heading into another cyclical downturn already? We have not even recovered from the last one.
Zeev
PS, booking in the last six month have exceeded shipments by a mere $150 MM, which gives us an average BTB for the last six months of 102.8, maybe we still have some winds in this recovery after all (VBG), VIVA Statistics. |
