Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 254.65

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3:17 PM EST

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To: stockycd who wrote (20309)	6/12/1998 10:23:00 PM
From: Ian@SI	Read Replies (1) of 70976

I haven't seen this posted yet... Too bad Morgan didn't lower the target while there was still an opportunity for Investors to do something... 11:23 AM ET 06/12/98 RESEARCH ALERT - Morgan cuts =1 NEW YORK, June 12 (Reuters) - Morgan Stanley said Friday it cut its ratings on semiconductor equipment companies KLA-Tencor Corp. . and Applied Materials Inc. . to outperform from strong buy. Morgan also cut its earnings outlook and stock price targets on both companies. -- Analyst Jay Deahna said the move was prompted by weak capacity utilization rates in the semiconductor industry and the increasing likelihood capital spending budgets will be cut further. -- Deahna cut his estimate of Applied's 1998 earnings estimate to $1.24 per share from $1.35 per share, and lowered the 1999 estimate to $1.00 a share from $1.85 a share. -- Applied's stock price target was lowered to $32 from $44. -- Deahna lowered his fiscal year 1998 earnings estimate for KLA-Tencor to $1.82 per share from $1.86 a share, and cut the 1999 estimate to $1.25 a share from $2.05 a share. -- Morgan's new stock price target for KLA-Tencor is $37. ((-- Wall Street Desk Newsdesk, 212-859-1610))

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