Brian, Gene and All,
Re: From the recent Dauvin Reuters article, "He said he expected the industry would cut its 1998 capital expenditure plan by an estimated $20 billion."
How do we reconcile this statement with a pick-up later in '98?
Secondly, Brooks Automation (BRKS), VECO, EGLS, SVGI, and UTEK are some of the secondary semi-equips that are trading at or near Book Value. Generally, over the past several years, these stocks have traded as a group (in-sync). To say that they will not continue to do so is to say that "It's different this time." Why should it be "different this time"?
Lastly, I'm not asking anybody to do anything with their stock. We all have to make our own decisions. I'm mostly saying that I do not feel comfortable going fully on margin with AMAT today (at today's price).
Regards,
Teri
PS. I am not suggesting that AMAT, KLAC and NVLS will necessarily trade as close to BV and Price/Sales as the secondary issues, but AMAT/KLAC/NVLS's prices don't reflect the uncertainty in today's market, IMO. Again, if someone (BB, DD, Anyone) wants to talk semi fundamentals, I'd love to hear reasoning for a sustained rally in the near-term. What bugs me is talk like "AMAT's going to 450 by this Friday", with no reasoning for this. |
