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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 227.16-0.9%1:22 PM EST
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To: Q. who wrote (6326)7/21/1998 12:20:00 PM
From: Katherine Derbyshire  Read Replies (3) of 10921
 
>>AMAT was the clear leader in 1996, and it's the clear leader in 1998. So if
nothing else were different, I would expect that the multiples of AMAT to fall to
the botton of its own range just as the other stocks fell to the bottom of their own
ranges.<<

I hate to rant, but I'm getting a little bit sick of this "Applied can do no wrong" stuff.

For instance, right now everyone is praying for chipmakers to start buying equipment for copper to pull the equipment industry back up. Applied Materials DOES NOT HAVE a copper fill deposition tool. Semitool does. Novellus does. CVC does. Applied does not. We could see 9 copper pilot lines this year, and AMAT probably won't be in any of them, at least for fill.

Yes, they are the clear leader in 1998. It is by no means certain that they will still be the clear leader in 2000.

If it were my money, I'd be spending it in parts of the sector where valuations match earnings a little better.

Katherine
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