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

To: scott_jiminez who wrote (1036)	8/22/2001 10:30:40 AM
From: Donald Wennerstrom	Respond to of 95790

Scott, Consider this message a note-not. For a "note-not", I thought it was pretty good. You have found a new way of communicating!<gg> For an additional input, the following is Briefing.com's take on the BtB Semi Equipment Book-to-Bill : SEMI just released its July book-to-bill ratio of 0.67....A book-to-bill of 0.67 means that $67 worth of new orders were received for every $100 of product shipped for the month. Briefing.com has gathered estimates from six brokerage firms and has calculated a mean estimate of 0.60 for July from 0.56 (revised) in June. While this is higher than expected, keep in mind that shipments fell 12% which accounts for part of the upside. (The equation is book-to-bill = bookings/shipments) The nugget in the report is that bookings were higher than expected. July bookings, at $764.2 mln, increased 5% sequentially but were sharply lower than the $2.9 bln in July 2000. The 5% increase was the highest sequential increase in some time, and better than most thought. For example, CSFB was predicting a 3% sequential decline. The decent increase in bookings at least provides some indication that capital equipment orders may have reached bottom. However, remember this is a a lagging indicator, not a leading one. In fact, CSFB argues the data are analytically insignificant....Bottom line, this was a moderately positive report -- better than most thought but not a clear home run....Reactions vs 4pm close: Applied Materials (AMAT +0.69), Novellus (NVLS +1.08), KLA-Tencor (KLAC -0.15). -- Robert J. Reid, Briefing.com