Piper Jaffray Confirms Super Cycle in Capital Equipment Spending (INTC, AMAT, ASML, NANO, UCTT)

In a research report published today by Piper Jaffray regarding semiconductors and enabling technologies, Piper Jaffray looked at Intel's INTC capital spending increases in 2011. In the report, Piper Jaffray states, "Intel's 2011 capital expenditure guidance of $9.0B, up from 2010's $5.2B and its hitstorical [sic] $5-6B level over the last five years, confirms our above consensus view on overall capex being up this year. Combined with new guidance from Global Foundries this week and TSMC's YoY projected growth in capex, we are raising our forecast to up 15% YoY from the previous up 10% expectation. We continue to highlight AMAT, ASML, NANO and UCTT as beneficiaries of increased spending." Piper Jaffray additionally notes, "In our coverage list, beneficiaries of increased equipment spending are AMAT, ASML, NANO and UCTT." Intel shares are currently trading at $21.05, -1.15% from Thursday's market close.