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Following on the heels of the lower-than-expected guidance from Applied Materials just a short week ago, Novellus provided investors with a mid-quarter update after the close of today’s trading session. In a nutshell: Customers of Novellus have become incrementally more cautious and they have curtailed their expansion plans. CEO Rick Hill said a contagion [...] Similar to what we’ve heard from Lam Research, Novellus, Teradyne and others in the semiconductor capital equipment sector, Tokyo Electron has revised their numbers for semiconductor equipment capital spending to -10 percent for the year. From the release: “In addition to uncertainty of global economy, demand for consumer electronics such as smartphones and tablets is slowing down [...] Short, sweet, and to the point. The rumors about Novellus becoming part of an M&A transaction seem to surface every couple of years. Will Tokyo Electron step up to the plate? What about the now-infamous rumor of Lam and Novellus merging? That one has been a fixture for [...] Under-estimations abound! After reading several Wall Street analyst reports it is clear that some view the outlook as much more bullish than others. Two of the reports we’ve read, one from UBS and one from Goldman Sachs, are quite positive. Less favorable views can be found on the EE Times website: Applied posts [...] |
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