Kirk,
I dug around on the link that Brian gave us of upgrades/downgrades, looking to see who was the first to downgrade after reaching a high of $115 in April. The first to issue a downgrade was over 3 months later on July 26, by a Candance TenBrink at William Blair.
Here are some AMAT thread comments at the time, we seem pretty mystified as to why this came about.
Message 14110182
Courtesy of Lone Star:
The bitch can dance, but she sure doesn't know squat about semis.
Candance TenBrink from William Blair Co. This is like Casey Kasem telling Pavoratti he's really not that great a singer.
Message 14111064
cnetinvestor.com
They only cover AMAT, NVLS, and KLAC and they cut KLAC at the the same time, but not NVLS. AMAT closed at $82 then, so it was well after the max but would have saved a lot of pain. Does anyone know if Candance just got lucky or if she knows what she is doing?
Novellus hit a max a bit earlier, $70 in early March. The first downgrade I see after that is in October by Needham analyst Theodore O'Neill, they had already fallen to $41 on their way to 30 1/2 tonight. If you allow an analyst to be a bit earlier, Advest downgraded on Feb 7 when they were $54, so they came closest with Novellus. I could not find the specific analyst responsible, though. |
