One of the main debates in the market right now is whether the semiconductor cycle has peaked already.  ISI and others believe it has.  We have seen a lot of money leaving technology for health care and other areas. 

Glen Yeung at Citi does not agree.  I am in his camp; I agree that semi has gotten better faster than the rest of the economy, but I think it can still grow based on new product cycle: PC upgrade, Secular shift to smart phones, wireless network buildouts, and possible tablet/e-readers as new markets.

The file below is my tracking of the book-to-bill ratio over the last couple of years, with graphs to make it clear how things are going.

If you have a strong opinion on this debate, informed or otherwise, feel free to email me at dasan888comments@gmail.com

SEMI BOOK TO BILL AND INDUSTRY.pdf