Earnings: Semiconductor Message Board

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Technology Stocks : Earnings: Semiconductor

INTC 41.34

-0.4%

3:59 PM EDT

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To: 2MAR$ who wrote (250)	2/19/2004 10:58:42 PM
From: 2MAR$	Read Replies (1) of 266

Update: AMAT dumped ! ($24~$22.20) and semis : after bidding up this am they dumped it right where they were doing 2 weeks before on levell II in huge batchs ..@ $24's clear as a crystal bell stockcharts.com[h,a]daclyyay[pb50!b200][vc60][iUc20!La12,26,9]&pref=G BofA weighs in: AMAT: Applied Materials Color (23.85 +1.54) UBS raising Applied Materials (AMAT) EPS estimates to reflect mgmt guidance as follows: FY04 to $0.76 from $0.45; FY05 to $0.99 from $0.92. Firm thinks co could outgrow peers in the near term. However, cuts price tgt to $29 from $32 as firm reduces its target PE multiple to 32x from 35x (consistent with patterns of prior cycles, firm is lowering its target multiple as we progress into the upcycle)... BofA Sec says that even with the more aggressive assumption and higher EPS estimates, firm views the stock as fully valued and thinks investors should use the strength to move to a market weighting in the sector. Firm says that historically Applied Materials has strung together 3-4 qtrs of sharp growth before momentum stalled (the only periods where order momentum lasted longer was the PC boom in 1993-95 and the communication bubble in 1999-2000).

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