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Technology Stocks : Semi Equipment Analysis

SOXX 312.18

-0.2%

4:00 PM EST

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To: Alastair McIntosh who wrote (7004)	11/22/2002 12:06:58 PM
From: The Ox	Read Replies (2) of 95541

Hi Al, I would say that the btb verifies how and why the industry has been acting/reacting. Layoffs and belt tightening everywhere. As the CEO from AMAT has been saying all along, at some point in time there will be a flood gate opening and everyone will order all at once but until that moment arrives, the industry will have a very rough stretch. Assuming IT spending starts a modest increase next year and picks up steam in the following year, your comment about things can't get worse MIGHT be accurate. Hard to tell if your comment was due to your bearishness and was tongue in cheek or you really mean it. I have assumed the former, since you've been pounding the table that these companies are over priced. They may be over priced based on the current fundies but I think the market is looking out 9 to 12 months and seeing serious signs of improvement in the overall "tech sector" and, more specifically, with overall IT spending going forward.

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