Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 259.21

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Dec 12 9:30 AM EST

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To: Proud_Infidel who wrote (41836)	2/1/2001 11:40:51 AM
From: Gottfried	Read Replies (1) of 70976

Brian,"Making sense of semiconductors during a downturn" BY SCOTT HERHOLD Mercury News www0.mercurycenter.com Scott Herhold is one of the more thoughtful columnists - and he agrees with me. :) excerpt So why has Applied floated in the face of a squall of bad news? Well, keep in mind that this is a well-run company. It is already beginning to cut costs. And it will be receiving some deferred revenue as it ships the new 300-millimeter wafer equipment. Probably the biggest reason, however, is that investors are trying to outthink the cycle. Merrill Lynch's Hodess theorizes that some of them foresee the inevitable upturn and want to buy ahead of the crowd. But here's a word of warning to those who think that Greenspan's magic will transform bad news into good. Wit SoundView, an East Coast investment bank, did a study of the impact of lowering rates on semiconductor equipment stocks. The verdict: It helps in the quarter the rates cuts are announced. But in the longer term, investors pay attention to the fundamentals. With all their shortcomings. Gottfried I hate unnecessary registration, too. But I understand they do it so they can use your address.

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