SMC 2014 Speaker - Patrick Ho, Stifel Nicolaus - Abstract

Patrick J. Ho
Senior Research Analyst 
Stifel Nicolaus

The Changing Economics of the Semiconductor Capital Equipment Industry—A Wall Street Perspective
An examination of the changing economic dynamics of the semiconductor equipment and associated markets (including materials) through one Wall Street perspective.  The view will examine issues like 1) increasing capital intensity, 2) the effects of the delays in EUV, 3) 450mm wafers (and why we are negative on this adoption), and 4) M&A (and why this trend will likely continue) and how it impacts market perceptions and the stocks in the group.