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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 155.79-3.4%Nov 4 3:59 PM EST
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To: Cary Salsberg who started this subject10/3/2002 10:44:40 AM
From: Sam  Read Replies (1) of 10921
 
RESEARCH ALERT-Merrill cuts estimates on chip eqpmt makers Wednesday October 2, 11:58 am ET [posted for future reference]

NEW YORK (Reuters) - Merrill Lynch cut its 2002 and
2003 earnings estimates Wednesday for 11 chip equipment makers
after reducing its revenue expectations.
Analyst Brett Hodess now expects semiconductor capital
spending in 2002 to fall 30 percent instead of dropping 25
percent, and for spending in 2003 to grow 10 percent-plus, down
from 20 percent-plus.
"These reductions reflect our updated bottoms-up survey for
2002 and top-down look at 2003," Hodess wrote in a research note.
"They also echo the reduction in the outlook for 2003
semiconductor sales, now 11 percent year-over-year (from 16
percent) made by our semiconductor team."
The companies and the changes are as follows:

                 Ticker      Cal 2002         Cal 2003
                            New     Old      New     Old
Applied Materials   AMAT.0    $0.19   $0.19    $0.35   $0.45
KLA Tencor          KLAC.O    $0.90   $0.94    $1.20   $1.25
LAM Research        LRCX.0   ($0.17) ($0.13)   $0.15   $0.59
Novellus Systems    NVLS.O    $0.18   $0.18    $0.45   $0.55
Teradyne Inc.       TER.N   ($1.13) ($1.15)  ($0.40) ($0.00)
Advanced Energy     AEIS.O   ($0.65) ($0.55)  ($0.23)  $0.40
Asyst Technologies  ASYT.O   ($0.45) ($0.39)   $0.11   $0.56
Cymer Inc.          CYMI.O    $0.65   $0.75    $0.85   $1.50
Kulicke Soffa       KLIC.O   ($1.25) ($1.33)  ($0.80) ($0.52)
MKS Instruments     MKSI.O   ($0.13) ($0.11)   $0.10   $0.40
Therma-Wave Inc.    TWAV.O   ($2.80) ($2.80)  ($0.90) ($0.90)
(Note: TWAV model was updated after the company's 9/30/02
pre-announcement)
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