To: Joan Osland Graffius who wrote (3893 ) 5/24/2001 3:46:58 PM From: John Pitera Read Replies (1) | Respond to Doug Kass (a great mind and hedge fund manager) on the Book to Build ratio number.....worst ever----but were the worst figures ever recorded since the data was compiled ten years ago...The prior low reading was Summer, 1998 at 0.56. 41% sequential drop in orders was also the most rapid descent. The prior low was 17%, which was set last month. 77% drop in total bookings from the October, 2000 peak surpasses the peak-to-trough declines of 55% in 1996 and 70% in 1998. many eqpt. manufacturers said that cancellations have subsided. transitions to 300mm wafers, copper interconnect, and 0.15 micron and below processing should provide a floor for incoming orders ." In essence, manufacturers can't cut back more on orders while maintaining should help the trough in semiconductor eqpt. fundamentals to arrive sooner ."
