Applied Materials No-Politics Thread (AMAT) Message Board

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

AMAT 259.15

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Dec 22 3:59 PM EST

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To: Proud_Infidel who wrote (9843)	5/19/2004 10:13:52 AM
From: Proud_Infidel	Read Replies (1) of 25522

Applied Materials (AMAT) 1-Overweight - 18.85 (USD) Edward C. White, Jr.,CFA Fiscal Q2 Exceeds Expectations Sector: 1-Positive The fiscal second quarter results continued to highlight that Applied Materials is well prepared for well above industry average financial performance in this recovery. Our rating remains 1- Overweight. Applied Materials posted strong fiscal Q2 (April) results. Revenues of $2.02 bill. exceeded our estimate of $1.98 bill. and the Street consensus of $1.89 bill. Orders of $2.21 bill. were slightly above our $2.2 bill. estimate. The 32% sequential order growth is higher than that of most companies in the industry for the March/April quarters. Driven by higher gross and operating margins, EPS were $0.22, above our estimate and the Street consensus of $0.19. As a result of favorable guidance for the July quarter, we have raised our fiscal 2004 EPS estimate to $0.86 from $0.80, and our fiscal 2005 estimate to $1.25 from $1.20. We have initiated a formal peak fiscal 2006 EPS estimate of $1.50.

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