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

To: Math Junkie who wrote (31856)	8/12/1999 12:33:00 AM
From: A. Edwards	Read Replies (1) \| Respond to of 70976

Applied Materials Solid Quarter Expected: Merrill Lynch & Co. 11 August 1999 Mark F. FitzGerald, Vice President Thomas R. Diffely, Industry Analyst Reason for Report: Quarterly Preview Investment Highlights: * AMAT reports 3Q'99 on August 17 th after the close. We are expecting $1.35 billion in revenues and $0.54 in EPS. Upsides in earnings could be as high as $0.57. Street estimates range from $0.51-$0.54. * New orders are a more important leading indicator. Our quarterly bookings projection is $1.55 billion versus $1.39 billion last quarter. The B:B ratio for the quarter is estimated at 1.15. We think bookings will increase again in the October '99 quarter to the $1.60-1.65 billion range * The stock is clearly reflecting a lot of good news. However, the accelerating strength of the PC chip business in the 2nd half suggest to us that spending could take another leg up. DRAM spending is currently only 25% of the mix versus 40% at the peak in the last cycle. Free PC give-aways will go a long way to soaking up excess capacity.