Trading with Jerry Olson

[Jerry Olson]

the biggest bunch of liars anywhere ever!!!!!!!!!!!!!!!

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03-Mar-04
09:31 JP Morgan reits bullish stance on Semi Equips

JP Morgan retierates their bullish stance on Semiconductor Equipment industry fundamentals and equipment stocks as they believe historically low capital spending ratios over the past few years suggest under-spending, thus implying tight utilization rates well into 2005. According to the firm, capital spending should exceed chip industry revenue growth in 2004 and 2005 which makes equipment stocks look more attractive than semi's. Equipment stocks are trading at a large discount to chip stocks on 2005 EPS estimates and the firm expects consensus to continue to move up causing equipment stocks to offer more upside percentage gain potential as chip and equipment stocks rise throughout the year. They are reiterating Overweight rating on Top Picks ASML (+0.04) and CYMI (-0.15).