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Technology Stocks : Semi Equipment Analysis
SOXX 299.81+2.7%Dec 19 4:00 PM EST
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To: Gottfried who wrote (3248)5/24/2002 9:43:13 AM
From: Return to Sender  Read Replies (3) of 95616
 
The SOX just sliced through 500 to the downside again G. Whether you see the glass half full or half empty it is far too easy for the analysts to move the market in directions as they desire. Certainly as Don points out the opinions are often in opposition. Even opposed to their own most recent opinions but the new utterances move the markets. This was Goldman's opinion of KLAC on April 5:

Message 17289796

7:46AM KLA-Tencor estimates raised at Goldman Sachs (KLAC) 65.71: Goldman Sachs raises ests for KLAC ahead of its Q3 earnings report as a result of a recent uptick in order activity; the projected order increase leads firm to significantly raise CY03 EPS est to $1.85 from $1.25; price target is $83.

And today:

7:27AM Goldman Sachs downgrades semi equipment stocks : Goldman Sachs downgrades the semi equipment sector to MKT WEIGHT from Mkt Overweight and lowers individual stock ratings; given near-term fundamental concerns and stock outperformance, firm would wait on the sidelines until a clearer end-demand picture emerges; believes a pause in order growth could occur as foundry customers digest the capacity additions that have accounted for much of the recent uptick in orders. Downgrades ACLS, AEIS, LRCX, and NVLS to MKT PERFORM from Mkt Outperform, and downgrades AMAT, ATMI, KLAC, and TER to MKT OUTPERFORM from Recommended List.

They are going to force a retest of the September lows in my opinion.

RtS
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