Axcelis Technologies: Strong Sales in a Corona World

A very large volume of filings last week lifted the third quarter financial statement update to 76% complete. The 675 filings that were processed last week was the largest weekly update ever. Still too early for a macro analysis but we will let one more week transpire to accumulate about a 90% complete update. Again, more evidence of crisis management at companies where sales growth is negative and falling. Rising gross profit margins and operating margins with sales growth negative is evidence of aggressive cost curtailment. That is widespread layoffs at companies that are unable to adjust qu…

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