Applied Materials No-Politics Thread (AMAT) Message Board

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

AMAT 252.25

+0.9%

Nov 28 9:30 AM EST

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To: Gottfried who wrote (2285)	8/12/2002 12:05:44 PM
From: Proud_Infidel	Read Replies (1) of 25522

And here comes the pile-on..... RESEARCH ALERT-Prudential cuts Applied Materials target NEW YORK, Aug 12 (Reuters) - Prudential Securities said on Monday it cut its 12-month price target on shares of Applied Materials Inc. (NasdaqNM:AMAT - News) to $21 from $27. Prudential also lowered its earnings estimates for Applied Materials, which makes gear for the production of computer chips. "We believe conditions in the semi equipment industry could continue to get incrementally negative," analyst Shekhar Pramanick said in a research report. "This is our second negative revision this quarter for Applied Materials." Prudential cut its fourth-quarter earnings forecast for Applied Materials to 8 cents per share from 9 cents per share. It also lowered its outlook for fiscal 2003, ending Oct. 31, 2003, to 47 cents a share from 62 cents a share. For the 12 months ending Dec. 31, 2003, Prudential said it cut its profit estimate to 60 cents a share from 76 cents a share. The company is set to issue its third-quarter earnings report on Tuesday. Shares of Applied Materials fell 48 cents, or 3.46 percent, to $13.38 in early Monday trading on the Nasdaq stock market.

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