Mr. Ho: I cover the capital equipment companies, so the Applied Materials (AMAT) of the world, Lam Research, KLA-Tencor (KLAC), Novellus Systems (NLVS) and a whole host of the smaller-cap names as well - Varian Semiconductor, Cymer (CYMI). I have a total of 16 names on the coverage, the big-cap names you just heard and back-end names as well - the Teradynes (TER), Verigy (VRGY) and LTX-Credence (LTXC). Pretty much all the equipment space.
TWST: In general, what's happening in this sector right now?
Mr. Ho: A lot of volatility. As I tell investors, if I could ever get this right, I wouldn't tell anyone the answer because I'll be making money. It's a volatile sector. The stocks generally track ahead of the actual fundamentals. It looks like the stocks have been moving probably for the last six-plus months ahead of that. Now the question becomes are we getting closer to a peak? And in my space, I would say that there is some emerging sentiment that we could be getting closer to a peak, and that's caused some of the volatility that we've seen in recent weeks.
Tickers included in this excerpt: AAPL, GOOG, INTC, LRCX, TXN, VSEA
For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.