While generally nothing is certain in the world of investing, today’s market is particularly volatile. In our special focus this week on semiconductor equipment, analyst Ben Pang talks to us a little bit about how to recognize a winner in the semiconductor equipment spaces.
TWST: How do you identify the companies that are going to be the winners?
Mr. Pang: The best way really is to look at who is winning at the leading chip companies. You really have four or five leaders in the chip industry — Intel (INTC) for logic CPU, Taiwan Semiconductor Manufacturing Company (TSM) for foundries, Samsung for NAND flash and DRAM, and Toshiba for NAND flash. These four companies are probably still above one generation ahead of the rest of the world. The equipment companies that are able to gain share at these technology leaders would be the best predictor for what will happen to overall market share.
For the full interview with Mr. Pang, including a look at what 2008 holds for semiconductor equipment and stock picks, click here.
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