Applied Materials No-Politics Thread (AMAT) Message Board

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

AMAT 252.25

+0.9%

Nov 28 9:30 AM EST

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To: Cary Salsberg who wrote (18924)	5/17/2006 8:02:30 AM
From: Proud_Infidel	Read Replies (2) of 25522

07:51 AMAT Applied Materials: Color on quarter Several firms are commenting on AMAT's Q2 results: Piper Jaffray notes that AMAT reported strong F2Q06 April results with upside to revenues, bookings, and EPS, but F3Q06 July booking guidance is likely perceived as below expectation. Although AMAT reported booking results and guidance implied a booking momentum of its core semiconductor business that matches LRCX at the top range of peers, they think AMAT shares will still likely be range-bound near term, as they enter a period of slow news. Firm thinks AMAT is on the right track of transforming itself back into growth mode, however, the long-term growth story is outweighed by near-term concern of the cycle... ThinkEquity believes the lingering concern that capital equipment group is merely cyclical should fade as AMAT pierces through the previous peak, achieved in Oct. 2004, over the next few quarters. They say the moderating growth in quarterly bookings should allow for a longer-lasting upturn... Credit Suisse believes the Street is more likely to focus on the negatives from the call, which were: 1) mid-point of July order guidance of 7.5% QoQ is below LRCX/KLAC at 10%; 2) no commentatry on October, leaving open the possibility of down orders in Oct - disappointing relative to expectations going into the call; 3) 200mm upside will not recur and 4) perpetual paranoia of an order peak - from July to October now for AMAT... Stifel says that while they still believe that industrywide semi equipment orders could peak in the June or September quarter, they believe AMAT's outperformance will be driven by its increasingly diversified business model. Firm raises their estimates following the call and maintains a Buy, as they continue to believe that the stock is only being valued for its semi cap business... Susquehanna expects limited near-term pressure on AMAT due to signs that order acceleration have peaked. . . . . . . . . . . . ...................and here I thought they had a good quarter!

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