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Politics : Formerly About Applied Materials

AMAT 225.03

-1.6%

1:02 PM EST

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To: Cary Salsberg who wrote (43243)	3/6/2001 5:33:02 PM
From: Fred Levine	Read Replies (1) of 70976

From Merrill Highlights: • Budgets are likely to be reduced as the year progresses, so the 9% budget growth of our last survey might be 5-6% by year end. Europeans are less likely to cut, but we fear that a softening Europe may be the next shoe to drop. • We see strong spending on Windows 2000, NT servers, wireless products, and storage. Softer areas include consulting, mainframes, printers, and outsourcing. • Companies are not slowing their use of Internet technologies because of the economy. Webification is a strategic priority and a cost saver. • Still, prioritization is occurring and projects are being delayed. Separately, in a recent meeting with CIOs we heard that budgets were being reduced only recently as CFOs lower the boom. Comment United States Technology Strategy 5 March 2001 Steven Milunovich, CFA First Vice President TechStrat Survey Survey of 50 U.S. and 20 European CIOs Reason for Report: Survey Results Merrill Lynch & Co. Global Securities Research & Economics Group Global Fundamental Equity Research Department RC#30206401 Industry

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