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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Paul V. who wrote (31697)	7/30/1999 1:13:00 PM
From: Gottfried	Read Replies (1) \| Respond to of 70976

Paul, the doubling in five years referred to sales, not stock price. If sales and earnings go up, the stock price will take care of itself. Gottfried

To: Paul V. who wrote (31697)	7/30/1999 4:02:00 PM
From: gugie	Read Replies (2) \| Respond to of 70976

I've seen Mr. Morgan's stock presentation on both semi and semicap maraket growth history. As I recall, over the last 35 years the semi growth graph is a straight line of just over 14%. The semicap graph over the last 25 years is almost exactly the same. They both dip and swerve over and above it from year to year, but with if you look at both graphs it clearly shows this linear growth rate. It's a useful tool as it also shows the semicap market like the end of a whip-small perturbations in semis cause larger swings in semicap market. Both, however, settle onto the steady state of just over 14%. So perhaps Capt. Jim's statement is only extrapolation. The first 10 years aren't included in the graph, probably because there wasn't much of a market for equipment, as most semi companies used a lot of home brew equipment before they started outsourcing.