in the afternoon on cnbc it was shown graphically that consumer spending was slow. In the previous rises (July August) the semi book to bill could then be understood to mean that a inventory build up has taken place. Now it can be observed that a slowing pace for semi's pc's sales is in vogue. This implies that stocks like aapl might be over priced non withstanding the cute little products being introduced even though these markets are starting to be saturated with competing competitors clone products. Remember that the high end products in aapls's inventory are pc's.