Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 249.89

+3.1%

Nov 26 3:59 PM EST

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To: Ian@SI who wrote (36892)	8/18/2000 6:17:29 PM
From: Cary Salsberg	Read Replies (2) of 70976

Ian, There is a general market disconnect between prices and quantitative valuation measures. This occurs on both the upside and the downside. As the semi-equip cycle matures, fear, such as we have just seen, will limit the upside. Consider that stocks like COHU and EGLS recently approached the 2 times cash, 1.5 times book level in an environment where these prices gave them a PE below 10 while higher earnings were forecast for next year. I believe that AMAT has a greater chance to reach $115 again in Q4 2000 than in Q4 2001. Cary

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