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Apple Inc. Message Board

  • elmojitogatico elmojitogatico Oct 21, 2010 8:30 PM Flag

    huge drop in book to bill better read stead

    North American Semiconductor Equipment Industry
    Posts September 2010 Book-To-Bill Ratio of 1.03

    SAN JOSE, Calif. – October 21, 2010 – North America-based manufacturers of semiconductor equipment posted $1.62 billion in orders in September 2010 (three-month average basis) and a book-to-bill ratio of 1.03, according to the September 2010 Book-to-Bill Report published today by SEMI. A book-to-bill of 1.03 means that $103 worth of orders were received for every $100 of product billed for the month.

    The three-month average of worldwide bookings in September 2010 was $1.62 billion. The bookings figure is 11.0 percent lower than the final August 2010 level of $1.82 billion, and is 113.0 percent above the $758.9 million in orders posted in September 2009.

    The three-month average of worldwide billings in September 2010 was $1.58 billion. The billings figure is up 1.3 percent from the final August 2010 level of $1.55 billion, and is 143.0 percent above the September 2009 billings level of $648.4 million.

    "Total actual billings through September are up more than 70 percent compared to 2009, highlighting the strong industry recovery this year,” said Daniel Tracy, director of Industry Research & Statistics at SEMI. "Bookings rates, which increased sharply over the past year, have eased in August and September."

    The SEMI book-to-bill is a ratio of three-month moving averages of worldwide bookings and billings for North American-based semiconductor equipment manufacturers. Billings and bookings figures are in millions of U.S. dollars.

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    • 21. Demand for dollars: This factor can be tied to most others, but it can function on its own as well. For example, "if French investors saw an opportunity in the U.S., they might be willing to pay more francs in order to get dollars to invest in the U.S." More francs per dollar means the dollar’s value has risen.
      22. Demand for physical currency outside the US: Some countries accept dollars as a physical currency, so they need a supply. For example, "large international demand for US currency bills in the 1990s gave the US government a unique and inexpensive-to-produce export." Although it requires supplying more currency, this is a factor that can strengthen the dollar’s value.
      23. Increase in money supply: With every new dollar printed, each one is valued less than before. The more dollars there are in circulation, the less the currency is valued because the supply has been increased. In practice, this usually causes inflation, which directly eats into the value of the dollar. While this would seem difficult to measure, the Federal Reserve periodically publishes M2 and M3 data (only reported by third parties now) reports on the US money supply.

      Interest rates

      24. Rise in interest rates: Higher interest rates mean more profit for investors, so a US rate hike will generally strengthen the dollar. In the long-term, however, the law of interest rate parity dictates that currency valuations and interest rates should move in opposite directions. The opposite also holds true. If the Fed lowers interest rates, investors might drop the dollar in the short-term because there’s not enough profit in it.
      25. Attractive interest rates in other countries: Regardless of whether US interest rates are rising or falling, the dollar’s value also depends on how US interest rates stack up to those of other countries. If US rates are lower, investors may switch to different currencies that can offer a better return. On the other hand, if other currencies have unattractive interest rates, that allows us to entice investors with a better deal.
      American consumers
      27. Consumer savings: Americans aren’t big on savings. In fact, most families have a negative net worth. While this has contributed to a strong economy in the short-term, it means the US is ill equipped to support the economy in the long-term. Additionally, negative domestic savings drives us to import foreign savings, which harms the dollar.

    • Guantanamo Bay Naval base Cuba had a naval medical bus whcih would go out into the community and offered medical dental & humanitarian assistance i.e delivered lots of cute little kittens

      the Cuban's children called it "la wa wa magica" or The Magic Bus
      it was navy blue with fruits of the land painted on it by the kids of the base and surrounding kittys. A song was maded and play by guess who?


      The Guess who ?
      picture similar to the original.

      A little tributary to doc's who play that day in fifty two

      thunks from four skunks :))

    • Wonder how much cheaper components are going to get?

    • Absolutely nothing specific to Apple.

      Congrats for the FUD though.


    • 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.

115.59-2.66(-2.25%)Oct 26 4:00 PMEDT