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Strategies & Market Trends : Guidance and Visibility
AAPL 255.48-1.1%Jan 16 3:59 PM EST
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To: 2MAR$ who wrote (62417)7/26/2002 9:06:10 AM
From: Joe Stocks  Read Replies (1) of 208838
 
Mars, Here is a note on the GS upgrade in the chip equip sector upgrade. After reading it it doesn't sound like much of a upgrade. Joe

>>>Goldman Sachs upgraded the chip equipment sector on belief that fund flows and seasonality may drive a meaningful move in stocks in the group, though the brokerage feels fundamentals are not likely to improve in the near-term. "We are not highlighting that stock prices can't go any lower, and we are not saying that fundamentals are improving as we have little visibility as to when fundamentals will once again become more favorable. Rather, we believe that for short periods of time, factors such as funds flow and seasonality can be important drivers of the stocks," Goldman told clients in a research note. Goldman acknowledged that its stance may not apply to all types of investors: "Our more aggressive stance on the stocks is not geared toward investors who are unable to trade around a seasonal pickup and who are overly concerned about being marked-to-market at year-end." Checking pre-open trades, leader Applied Materials (AMAT) gained 87 cents to $15.10 and Novellus Systems (NVLS) climbed 60 cents to $24.90. In conjunction with its group upgrade, Goldman lowered estimates on Applied Materials, KLA-Tencor (KLAC) and Credence Systems (CMOS)
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