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Politics : Formerly About Applied Materials

AMAT 332.56

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Jan 27 3:59 PM EST

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To: Gottfried who wrote (22597)	8/6/1998 10:23:00 PM
From: Katherine Derbyshire	Read Replies (1) of 70976

The last downturn for which I have data (from ICE Corp.) is 1991-1993. In 1992, worldwide capital spending dropped 10%, then in 1993 it rose by 35%. The 1992-1996 growth cycle was explosive, even by the standards of this industry. At the peak, in 1995, capital spending jumped by 74%. Which helps to explain how chip supply and demand got so far out of balance. Katherine

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