Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 218.85

-0.6%

9:33 AM EST

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To: Ian@SI who wrote (36611)	8/10/2000 10:20:44 PM
From: Proud_Infidel	Read Replies (2) of 70976

Ian, One thing to add is that AMAT is not the Gorilla it was during the last cycle. Prior to 1999, AMAT's highest net margin was 15.1% if my memory serves. This past Q it was 22.1% and will probably continue to rise. AMAT also had about one-third of the front-end market then. They have more now and their goal going forward is 50%. AMAT can now offer total solutions to customers and manage inventory, something no other company can. How many companies in the world show this kind of promise and profitability? Using prior multiples would assume similar market conditions, and a similar company, of which we have neither. Wouldn't one expect a company such as this in an industry which is the cornerstone as life as we know it to garner a multiple at least similar to KO? Apparently the market values a slow-growth(but somewhat consistent) sugar water maker over the premier technology name of the 21st Century. Amazing! BK

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