Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 223.95

+1.7%

Nov 21 9:30 AM EST

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To: Jeffrey D who wrote (25938)	11/3/1998 4:13:00 PM
From: still learning	Read Replies (1) of 70976

How do your comments square against the following quotes from your H&Q post: * We believe the stocks are trading at the high end of their range and would use market weakness to accumulate the highest quality equipment names and we would not recommend paying up for equipment stocks at this juncture. We reiterate our Buy-on-weakness theme which we have emphasized all year. Our favorite names continue to be Novellus Systems, KLA-Tencor, Applied Materials, and ATMI.Introduction * Over the last several weeks, the equipment stocks have moved dramatically off their bottoms. When we published The Value Perspective, the top picks in our universe were trading at 2-3 times book value and 1.4-2 times trailing revenues. After appreciating 30%-50% they are trading at 2.7-4 times book value and 2.3-3.1 times trailing sales. The valuations are not as compelling at current levels and we believe value investors are likely to move off to the sidelines.

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