Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 322.34

+1.1%

Jan 23 9:30 AM EST

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To: jtechkid who wrote (23491)	8/27/1998 8:17:00 PM
From: Henry Eichorszt	Read Replies (1) of 70976

FROM SMARTMONEY-It's hard to argue that pummeled sectors like chip equipment are overvalued. After all, the group came down 8% on Thursday. And of the 36 equipment companies tracked by Zacks Investment Research, 15 are now trading below book value -- quality companies like LAM Research (LRCX) and Mattson Technology (MTSN) among them. But Mark Fitzgerald, who follows the semiconductor capital equipment sector for Merrill Lynch, says there's no point in bottom fishing now. Until the PC market recovers, he says, chip equipment stocks are going nowhere. And PC prospects are less than rosy. He expects that the holiday boost in PC sales will be short-lived, and that companies like Dell Computer (DELL) are growing primarily by stealing share in certain markets, while the market itself is not growing at all. "NEC and some other firms have lost significant share in Asian markets [to Dell]," Fitzgerald says.

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