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To: shane forbes who wrote (12258)	5/13/1998 10:15:00 AM
From: Grand Poobah	Read Replies (1) of 25814

<ot> Shane, re AMAT: This time I thought I would share with you what I have heard from friends regarding AMAT. My understanding is that they had a small round of layoffs/voluntary attrition around March/April. Their recently announced "intermittent company-wide shutdown days" apparently mean they have gone to a four-day work week(!), and they are going to have another round of more serious layoffs soon. My source is a co-worker who has friends who work at AMAT. I am surprised the market didn't take their "cautious near-term" warning a little more negatively. I guess everyone was just happy AMAT made the predicted $0.37 earnings. Normally I am quite bullish, so I find it strange that in the case of semi-equips I seem to be more bearish than Wall Street. G.P.

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