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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (840)	7/23/2001 6:31:36 PM
From: Return to Sender	Read Replies (2) \| Respond to of 95596

0.54! Higher than I expected. Looking at earnings expectations from most companies they certainly aren't shipping enough chips to stabilize pricing. Still the BtB was at the high end of expectations signaling a turnaround. The three-month average of worldwide bookings in June 2001 was $704.7 million. Also at the high end of expectations. semi.org!OpenDocument These were the expectations: 3:12PM Semi Equip Book/Bill : Industry group SEMI's book/bill ratio for the semi equipment industry will be released after the close. After plunging for months, the index edged up to 0.46 in May from 0.44 in Apr. The mean estimate of 4 firms who provided numbers for June is 0.53. However, analysts are taking pains to point out that the increase might occur because shipments are falling faster than orders, and therefore suggest the focus should be the orders number; of 5 firms whose comments we reviewed, 3 expected a decline in orders vs May's $604 mln; 2 an increase, with Goldman Sachs the most optimistic at $700 mln. Thanks, RtS

To: Donald Wennerstrom who wrote (840)	7/23/2001 6:39:51 PM
From: Return to Sender	Read Replies (2) \| Respond to of 95596

EDIT: SI is messing up. BTB was 0.54! Higher than I expected. Looking at earnings expectations from most companies they certainly aren't shipping enough chips to stabilize pricing. Still the BtB was at the high end of expectations perhaps signaling a turnaround. The three-month average of worldwide bookings in June 2001 was $704.7 million. Also at the high end of expectations. Lots more information at the Semi.org site. Shipments fell to 1,310.8 from 1,485.0 while bookings fell a smaller percentage leading to a higher BtB. Not conclusive that we have seen the worst yet as far as earnings go there is no way next quarter will be better than this one for most companies. semi.org!OpenDocument These were the expectations: 3:12PM Semi Equip Book/Bill : Industry group SEMI's book/bill ratio for the semi equipment industry will be released after the close. After plunging for months, the index edged up to 0.46 in May from 0.44 in Apr. The mean estimate of 4 firms who provided numbers for June is 0.53. However, analysts are taking pains to point out that the increase might occur because shipments are falling faster than orders, and therefore suggest the focus should be the orders number; of 5 firms whose comments we reviewed, 3 expected a decline in orders vs May's $604 mln; 2 an increase, with Goldman Sachs the most optimistic at $700 mln. Thanks, RtS