< The 2014 All-America Research TeamJohn PitzerCredit SuisseFirst-place appearances: 2
Total appearances: 6
Team debut: 2001After an eight-year absence from this roster, John Pitzer returns to capture second place. The Credit Suisse analyst also claims the No. 2 position in Semiconductors this year and is deemed “the standard for the semi and equipment spaces” by one fund manager. Adds a second backer: “His experience and judgment are strong differentiators.” Pitzer covers seven companies in the semiconductor capital equipment space and is upbeat on the group overall, he says, “albeit with a more subdued view on revenue growth as measured by capital spending and wafer fab equipment spending,” he reports. “We are a bit more cautious on WFE spending, in large part recognizing that 80 to 85 percent of all spending on WFE goes to support a consumer electronics market — handsets, tablets, personal computers — where unit growth has decelerated from 15 percent to zero to 3 percent. Within the [capital expenditure] bucket, we are more positive on memory, neutral on logic and neutral to negative on foundry.”