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1. elkokko 4 augustus 2000 14:44

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   •    elkokko

     Lid sinds: 01 jan 2000

     Laatste bezoek: 19 feb 2023

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   SNS SECURITIES schrijft: TECHNOLOGY HARDWARE Kulicke&Soffa (KLIC) said that deferral of orders fore wire bonders from Q4 to Q1 2001 would impact its result in the latter part of 2000. The shares dropped about 40% initially, ending down 25%. From the company's conference call it appears that this is NOT, repeat NOT an indication that the semiconductor cycle is turning downwards. In fact, demand remains very strong and only two clients (one of which small) have asked to delay delivery due to shortage of plant space and shortage in the availability of wafers. Rescheduling is pretty common in the industry, especially with new production lines. It only appears that other customers were not yet willing to take up the slack, indicating others were also digesting the huge orders they placed earlier this year. K&S said only softness was seen at some subcontractors, saying appear to be "ahead of the industry's growth curve". Guidance was steering estimates for Q4 down from rev $ 280 mln to $ 260 mln and EPS from $ 0.70 to $ 0.60. K&S also said that lack of lithography equipment will held back capacity expansion over the next year or so, suggesting that this will lead to a prolonged cycle, end product shortages, higher prices for chip makers etc. With very strong underlying demand seen continuing, it should be clear that yesterday's market reaction was clearly an overreaction. Related stocks such as ASML (recommendation Outperform), ASMI (Strong Buy) and BESI (Underperform) were hit badly. We recommend to use this opportunity to pick up some.