Applied Materials No-Politics Thread (AMAT) Message Board

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

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Dec 22 3:59 PM EST

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To: Gottfried who wrote (16813)	12/12/2005 10:45:21 AM
From: Proud_Infidel	Read Replies (4) of 25522

Flash Memory Seen Driving Chip-Equipment Fundamentals Maya Roney, 12.12.05, 10:27 AM ET Banc of America Securities research analyst Mark FitzGerald said the NAND flash-memory market will drive improving fundamentals for semiconductor-equipment companies over the next several quarters. The analyst said Asia was now "the epicenter of the chip industry," with the Japanese chipmakers sounding particularly optimistic at a recent industry show. Toshiba, Hynix, Micron Technology (nyse: MU - news - people ) and Samsung are all investing in NAND memory, with Samsung expected to convert its new Fab 15 project from a DRAM to a NAND fabrication plant in the next year. The sector is now "pure cyclical with shortened amplitudes," said Fitzgerald. "Company-specific news versus sector fundamentals will be key to stock performance." In its coverage of semiconductor capital equipment, Banc of America's top picks are Taiwan Semiconductor Manufacturing (nyse: TSM - news - people ) and ASM Lithography (nasdaq: ASML - news - people ), both rated at "buy" with respective price targets of $11.75 and $21.20. Its least favorites are Varian Semiconductor Equipment Associates (nasdaq: VSEA - news - people ) and Applied Materials (nasdaq: AMAT - news - people ), both rated at "sell" with respective price targets of $33 and $14.70.

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