Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 258.92

-0.9%

3:59 PM EST

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From: Proud_Infidel	3/23/2001 2:26:38 PM
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RESEARCH ALERT-Lehman cuts Applied Materials EPS view NEW YORK, March 23 (Reuters) - Lehman Brothers said on Friday that it cut its 2001 and 2002 earnings per share view on Applied Materials Inc. (NasdaqNM:AMAT - news), after the top semiconductor equipment maker's chief financial officer said he sees no sign of recovery for his company's sector. The brokerage said it cut its 2001 EPS view to $1.62 from $1.90 and its 2002 EPS view to $2.60 from $2.75. Applied Materials Chief Financial Officer Joseph Bronson said in remarks at the SEMInvest conference in New York on Wednesday that he has low expectations for the sector and he didn't see any positive signs. ``We believe that anyone looking at Applied's shares today are not really focusing on the current quarter's earnings or even fiscal year 2001 (ending October) for that matter,'' Lehman said. ''The real question is how strong growth will be in fiscal year 2002. Shares of Applied Materials closed at $51-1/8 in Nasdaq market trading on Thursday. The stock has a 52-week range of $49-7/16 to $115.

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