These aren't decisions you make on a day or two basis. Capacity utilization in the industry is low enough that there would have to be a sustained increase in demand to see people start placing new equipment orders.
More Quotes from Ray Rund:
Intel is the leader in the semiconductor market. They're No. 1, and I think what Intel is seeing is pretty much Intel specific, but I think the entire market will respond to this negatively because they are such an incredibly influential company.Ray Rund
The consumer confidence number dropping gave people a bit of a surprise.
Ray Rund
Seems like some of the stocks that had really run up have taken a bit of a tumble as of late.
Ray Rund
I tend to think we're in for some period of weak growth, and I'm not talking about a quarter or two. I think for all of 2003 maybe into 2004 we'll continue to see weak growth.
Ray Rund
We're at a funny point in the cycle. The companies have reported that they're seeing some growth for the next quarter, but it's not robust growth, and the valuations on a historic basis are still pretty full. What's driving these stocks is sentiment -- people are afraid that if they miss them now they'll miss a big run-up.
Ray Rund
Semiconductors are an area that people saw as the premier growth area in the past. Anytime there's good news, people assume this is going to resume its growth and they rush back in. There's no fundamental pattern that would explain why they're up so much today.
Ray Rund
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