Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 328.51

+1.9%

3:59 PM EST

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To: michael97123 who wrote (42403)	2/20/2001 9:21:07 PM
From: Cary Salsberg	Read Replies (1) of 70976

Mike, Valuations were much lower in 1998 for semi-equips and many semis. Its not the end of the world or the end of the bear. Its the realization that technology is not magic, that technology has solutions that don't address any pressing problems, and that the bubble valuations technology achieved have not been wrung out yet. The Fed must exert some care in lowering interest rates because the strong dollar has kept inflation in check. Both cheap foreign goods and labor have contributed to US productivity and low inflation. Long term prospects for our economy and technology are very positive, but we must accept the current pain while we correct previous excess. It is a fallacy to expect AG to be able to wave a monetary wand and fix everything. He has responded quickly and decisively to our declining economy, but things don't turn on a dime.

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