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Technology Stocks : Semi Equipment Analysis
SOXX 298.01-0.5%Dec 15 4:00 PM EST
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To: Alastair McIntosh who wrote (6710)11/5/2002 9:31:57 AM
From: Sarmad Y. Hermiz  Read Replies (3) of 95580
 
Alastair,

I think the AMAT cost reductions will make it more likely that AMAT's margins will lead to 80c/sh in 2004. And I think the market is reacting in a stupid fashion again.

This is similar to what happened in '98. Right after AMAT reduced staff and costs, profits shot up. I expect the same. The 1700 person reduction will result in approx $300m/yr. Which is 20c/sh.

The part we are yet to see is increase in demand. But I have zero doubt that chip use will increase very significantly and soon. Even my toaster has chips in it now.

Sarmad
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