Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 322.32

-5.6%

Jan 30 9:30 AM EST

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To: Margarita who wrote (8814)	10/18/1997 2:02:00 PM
From: Jacob Snyder	of 70976

Analyst downgrades are buy signals. There is a very consistent pattern going back at least 10 years on this stock. Every time the industry is out of favor with the market, every time the analysts have downgraded the stock and decreased earnings estimates, has been the best time to buy. These people are excellent lagging indicators. I made AMAT my largest holding in February 1997, at a cost basis of 25. My only mistake was that I didn't have enough courage to buy when despair was at its greatest. I waited till the Wall Street Journal began to say hopefull things about the industry, and so I missed the first doubling from the low. I intend to catch the second and third doublings, and buy every dip along the way.

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