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Politics : Formerly About Applied Materials
AMAT 259.21-4.0%Dec 12 9:30 AM EST

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To: Scott Brooks who wrote (12785)12/10/1997 12:01:00 PM
From: Math Junkie  Read Replies (1) of 70976
 
<<The buyback represented in this PR is simply to offset any dilution from the employee stock plans>>

You are correct.

You are also correct about my place of employment, although I am too low on the totem pole to know much in the way of inside information, and thus am on here speculating along with everyone else <G>.

<<It does not in any way indicate the cos. opinion on the relative price of the stock - inexpensive or otherwise.>>

My opinion, or maybe I should call it a guess, is that such announcements typically occur closer to a bottom than a top. Because of the lock-in prices in ESOPs, it is to a company's advantage to buy stock for such programs when it is cheap. I don't remember seeing press releases like that in the summer of 1995 or this September, for example. I continue to believe that the high executives have a much better idea of when the stock is expensive or cheap than I do.
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