Keep Believing In CNBS Boyz.... in [Market-Ticker]

Posted 2010-09-10 09:38
by Karl Denninger
in Macro Factors

Keep Believing In CNBS Boyz....

...and don't pay any attention to actual companies that have actual data.

SAN FRANCISCO/NEW YORK, Sept 9 (Reuters) - Chip makers National Semiconductor and Texas Instruments Inc on Thursday issued quarterly financial targets that stoked investors' worries about a sluggish economy.

Both companies cited weak demand for personal computers and other devices that use microchips and National Semiconductor said consumers were not spending as much as expected.

"We'd all like to believe that consumer spending is onward and upward but I don't think it is," National Semiconductor Chief Executive Donald Macleod told Reuters.

Yep.

What does this tell you about semiconductor demand?

That it is sputtering - while well off the absolute bottom when all demand was being fed by existing inventories (which was the case at the end of 2008) there is zero evidence to support a return of organic demand at anything close to the 2006 and 2007 "rah-rah" levels.

Down about 45% from the 2006-2007 levels and below those of the first half of 2008.

Good luck betting on the premise of "economic recovery" when the high-tech gadgets that have been the driver of the economy for the last two decades aren't selling!

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User Info	Keep Believing In CNBS Boyz.... in forum [Market-Ticker]
Docj Posts: 998 Incept: 2009-09-10 Duck & Cover	No worries - the Rally Monkeys are out early today. ---------- The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams 2010-09-10 09:56:52 Permalink
Smacktle Posts: 1358 Incept: 2009-01-20 Texas	I plan on buying a new computer in December (I usually have someone build one for me) and just bought a new phone after my other one crapped out after 4 years. Hope that helps! ---------- The faults of the burglar are the qualities of the financier. - George Bernard Shaw Last modified: 2010-09-10 10:06:08 by smacktle 2010-09-10 10:05:26 Permalink
Tarmoney Posts: 335 Incept: 2008-01-23 LI, NY	There was a lot of pent-up demand to replace really old PCs as most skipped Vista. Windows 7 came out, most waited 6 months to see how it would go and the flood gates opened. The surge has now subsided, and the SOX reflects this. ---------- "Then have a recession. It's a financial enema for a sick animal." - Rick Santelli I really can't wait to see all these guys twist on the rope... -me 2010-09-10 10:45:44 Permalink
Nirvan45 Posts: 4036 Incept: 2007-10-31 florida	I believe CENTRAL NEWS BULL **** They are informative and trust worty They said aapl canablizing p.c sector and I believe them Rally on boys to new hi Paying attention? they want to get amzn to 150 today What's up w/ retail most I am looking deep green 2010-09-10 11:04:28 Permalink
Cobradriver Posts: 90 Incept: 2009-08-04 Port Charlotte,Fl	On the trucking side we took about a 30% whack in late 06 here in SW Florida. Since then? Flat. We have had a couple of small upticks...not enough to brag about. I had 53 trucks in 2006. A low of 39 two weeks ago. I just got 4 brand new ones...they is so shiny... Chris 2010-09-10 11:28:57 Permalink
Randy123 Posts: 5767 Incept: 2008-09-24 Earth	Again, you believe the people you know in business. It hasn't improved. It has flat lined. ---------- China is the Enemy. Wake Up. New Normal. Same As The Old Awful. 2010-09-10 11:29:49 Permalink
Splashdown Posts: 556 Incept: 2010-04-05 Central Illinois	Let's not forget about Intel's warning only a couple of weeks ago which seemed to roll of everyones back like it didn't happen...I think INTC actually closed green that day. My guess is that all the guests on CNBS will just play the, "It's already baked into the cake at this point", card to try and counter any reports of a sputtering recovery. Q3 earnings season should be interesting to say the least. Last modified: 2010-09-10 14:56:09 by splashdown 2010-09-10 14:55:06 Permalink
Genesis Posts: 130663 Incept: 2007-06-26	I think the Q3 numbers will be very interesting... especially considering that the leading chipmakers have been warning of slowdowns, and they're typically 2-3 months in front of final consumer activity. Well....... ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2010-09-10 14:58:02 Permalink