Kulicke and Soffa Message Board

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Technology Stocks : Kulicke and Soffa

KLIC 57.33

-2.6%

Jan 30 9:30 AM EST

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From: scott_jiminez	10/5/2000 2:50:20 PM
	Read Replies (2) of 5482

Over the past week AMAT, TER, and KLAC are all down ~15% while KLIC, LRCX and some others are ~flat. Perhaps Donald Wennerstrom could post the data to confirm this, but I believe this extends a trend since the beginning of September. One take would be the the typical canary in the coal mine scenario - Klic (and a few others) were hit early with confirmed pushout news while the 'big boys' had to face the music soon thereafter. Thus AMAT etc. are in effect catching up (or down) to the 'reality' that Klic faced in early August. The idea that the AMAT's and KLAC's were immune to the effect of investors negative perceptions is just another page in the history of hubris. AMAT's crash is no more absurd than that of Klic or any of the countless others SEMs that are now trading ~70% off their highs. When a sector goes out of favor as the SEMs are now, all the component stocks will retreat. AMAT is no different, no matter how many posts are made to the contrary. Investor's should not be surprised if AMAT et al. continue to swoon worse than Klic since their (even greatly reduced) valuations remain rich compared to most of the rest of the sector. Scott (a.k.a. Mr. Congeniality) [IMO, the 'canary in the mine' idea is about to be played out in the biotech sector. IMO one of the canaries is/will be Millennium Pharmaceuticals (MLMN). And I can't imagine a sector more hubris-full than BT.]

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