Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

AMAT 223.95

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Nov 21 9:30 AM EST

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To: Gottfried who wrote (1488)	7/11/2002 12:06:03 PM
From: Proud_Infidel	Read Replies (1) of 25522

Take this FWIW.......I only post it bc it could influence the stock price....... RESEARCH ALERT-Prudential cuts chip equipment makers NEW YORK, July 11 (Reuters) - Prudential Securities on Thursday said it cut its estimates and price targets for all chip equipment makers, including Applied Materials Inc. (NasdaqNM:AMAT - News) and Novellus Systems Inc. (NasdaqNM:NVLS - News). Analyst Shekhar Pramanick reduced his Applied Materials price target to $27 from $35, and cut his Novellus price target to $44 from $67. "Our field checks suggest Intel (Corp. (NasdaqNM:INTC - News)) could be pushing out tool deliveries for its 300mm Fab 11x in New Mexico," he wrote. "Our checks suggest delivery pushouts could be to the first quarter of 2004 from the fourth-quarter of 2002. He said overall tool spending in 2002 could be down 24 percent to 25 percent year-over-year instead of the 18 percent to 20 percent drop he had previously expected. Pramanick lowered his calendar year 2002 earnings per share estimate for Applied Materials to 20 cents from 23 cents, and his 2003 estimate to 62 cents from 85 cents. Novellus' earnings per share estimate was cut to 26 cents from 50 cents for 2002 while 2003 was reduced to $1.25 from $1.62. KLA-Tencor Corp.'s (NasdaqNM:KLAC - News) earnings per share estimate was lowered to 90 cents for calendar 2002 while next year was cut to $1.56 from $2.00. Lam Research Corp.'s (NasdaqNM:LRCX - News) results per share estimate was lowered to a loss of 13 cents from a loss of 1 cemt. The price target for Lan was cut to $24 a share from $37. In morning trade, Applied Materials rose 21 cents to $16.88 per share, Novellus rose 20 cents to $28.15, KLA rose 39 cents to $40.92 and Lam rose 28 cents tp $15.88.

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