Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 253.43

+2.0%

Dec 18 3:59 PM EST

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To: Cary Salsberg who wrote (65083)	7/25/2002 6:12:56 PM
From: Sam Citron	Read Replies (1) of 70976

Look at 2 times book for AMAT, KLAC, NVLS. At that price, "mother of all buying opps". Can you shed some light on historical ranges of P/B for these stocks? What would constitute bottom of historical ranges for the other 5 on your list? I think it is unrealistic to expect your companies not to be influenced by a secular bear market. These are cyclical companies with very high betas. They are very sensitive to changes in overall market direction. In spite of sound longterm fundamentals, investors may be spooked by the volatility and temporarily cause the markets to "overshoot on the downside" as they liquidate or simply refrain from buying even at historical bargain levels. Others will simply be unable to respond to bargain-hunting opportunities because they are out of cash. It is remarkable that in spite of the severe correction, your 8 stocks have not yet hit lower lows than they reached in previous cycles. Considering that this is the first cycle in many without the bubble tailwind, that is quite an achievement. Sam

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