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Technology Stocks : Semi Equipment Analysis

SOXX 309.40

+1.0%

Dec 5 4:00 PM EST

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To: The Ox who wrote (5828)	10/4/2002 8:56:38 AM
From: The Ox	Read Replies (1) of 95531

Zacks: Sell NVLS now Novellus Systems, Inc. (Nasdaq: NVLS - News) manufactures and markets semi-conductor processing equipment. In late August, the company warned that third quarter results would come below expectations, due to the continued slump in demand for chip equipment. Over the past three months, earnings estimates for NVLS have dropped by -54% for this year and -64% for next year. However, even though its earnings estimates are trending lower, and it operates in one of the most challenged industries in the marketplace, NVLS doesn't expect a loss in the quarter. NVLS would be able to put up some better numbers if only demand in its industry would recover. Since that may not be for a while, investors may want to hold off on NVLS for the time being.

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