Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 256.41

+1.1%

Dec 19 9:30 AM EST

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To: Chi-X who wrote (13160)	12/12/1997 4:11:00 PM
From: Proud_Infidel	Read Replies (2) of 70976

Excerpt from Motley Fools(Dec 11). We need at least a ray of hope: All of this fear has created the most attractive set of valuations on semiconductor capital equipment manufacturers in the last few months. With a variety of companies sporting solid balance sheets and starting to edge toward the low end of their historical valuation ranges, today's turmoil appears to offer investors the first compelling entry point since late 1996. On a relative basis the larger manufacturers have actually been hit harder, with Applied Materials (Nasdaq:AMAT - news) , KLA-Tencor (Nasdaq:KLAC - news) , and the decently diversified Teradyne (NYSE:TER - news) all trading for around 2.0 times their enterprise value (price). The five-year lows in the price/sales for these three companies are between 0.7 to 1.0, while the five-year highs range between 5.0 to 5.5. Although they have not hit near absolute panic valuations, the South Korean problems would have to kick off a major slowdown across all semiconductor capital equipment product lines to justify some of today's prices.

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