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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: limtex who wrote (111409)	1/23/2002 11:06:21 AM
From: JohnG	Read Replies (1) \| Respond to of 152472

Possible turn in simi book-to-build North American Semiconductor Equipment Industry Posts December 2001 Book-to-Bill Ratio of 0.78 SAN JOSE, Calif., January 22, 2002 -- The North American-based manufacturers of semiconductor equipment posted $652.4 million in orders in December 2001 (three-month average basis) and a book-to-bill ratio of 0.78, according to the December 2001 Express Report published today by Semiconductor Equipment and Materials International (SEMI). A book-to-bill of 0.78 means that $78 worth of new orders were received for every $100 of product billed for the month. The three-month average of worldwide bookings in December 2001 was $652.4 million. The bookings figure is about 7 percent above the revised November 2001 level of $609.3 million and 73 percent below the $2.37 billion in orders posted in December 2000. The three-month average of worldwide billings in December 2001 was $834.9 million. The billings figure is approximately 0.7 percent above the revised November 2001 level of $829.5 million and 65 percent below the December 2000 billings level of $2.39 billion. "There are some indications that capacity utilization and unit volume output have improved from the 2001 lows, in particular for some segments of the assembly and test markets," said Stanley Myers, president and CEO of SEMI. "Chip and equipment companies, however, remain cautious about the near-term outlook because of uncertainty with the overall economic recovery." The SEMI book-to-bill is a ratio of three-month moving average bookings to three-month moving average billings for the North American semiconductor equipment industry. Billings and bookings figures are in millions of U.S. dollars.

To: limtex who wrote (111409)	1/23/2002 2:51:25 PM
From: Wyätt Gwyön	Respond to of 152472

lim, wouldn't be surpised to see Mucho proven right in the next few days just to clarify, i don't expect to be proven right over a period of a few days--i have absolutely no idea what that time frame will yield. i don't see QCOM's recent fall as "evidence" of my being "right", nor would i look at a strong reversal here as "evidence" of my being "wrong". i expect to be proven right over a time period sufficient for intrinsic value to be reflected in price...that might be 10 or 20 years. i haven't seen any arguments yet that would sway me to a more bullish outlook on the longer time frames.