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Politics : Formerly About Applied Materials

AMAT 268.72

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From: Gottfried	5/1/2002 5:18:31 PM
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8:57am 05/01/02 Merrill Lynch: AMAT upbeat at conference (AMAT) By Julie Rannazzisi Merrill Lynch told clients that chip equipment stalwart Applied Materials (AMAT) sounded upbeat at the brokerage's "Hardware Heaven" conference in San Francisco on Tuesday. While AMAT did not make specific comments about the quarter, Merrill claimed the "tone" of the presentation showed management's excitement about the improving business outlook. "AMAT believes that the increase in business due to technology upgrades in early 2002 has just scratched the surface of the actual demand," Merrill said, noting that China remains an "important piece of the AMAT Puzzle" since the company expects to book up to $500 million in China this year. Merrill also said it feels "quite comfortable" with its fiscal second quarter revenue, earnings and order estimates on AMAT. Shares closed up 1.6 percent to $24.32 on Tuesday. cbs.marketwatch.com

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