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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (7254)7/29/1999 10:38:00 AM
From: Justa Werkenstiff  Read Replies (3) of 15132
 
** Semi Equipment Comment **

Semi equipment opened lower with the general market but are looking fairly strong currently. There are two immediate drivers here. Look at INTC and MU. INTC missed their number but give good guidance for the next two quarters. It should make a new high in the coming days IMO. Volume is high and as I write it is only down 1/4 with the Nasdaq down 50 plus. Free PCs are one factor. On the MU side (MU is up today), DRAM prices are up the past few weeks and MU is at a Robbie Stephens Conference talking up DRAM shortages, early school PC demand, a move to include more memory per machine and increased cap ex in the coming year. Whether or not MU's analysis is correct (DRAM market is volatile) is inconsequential as the perception in the market now is that it is correct. All this adds up to mo-mo looking at the large semi equips now especially at the end of the month here where the fat cats could be expected to make some reallocation of funds to this sector. AMAT has a history of running up prior to earnings in August. All of this thinking rests, of course, on the performance of the overall market which is not looking too good here.
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