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

To: Ian@SI who wrote (31934)	8/14/1999 5:15:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 70976

Ian and All: This whole recent AMAT price decline episode is the direct result of AMAT's refusal to give analyst specific guidance for bookings this quarter. I am not faulting AMAT's management; I am just stating what happened. In fact, given NVLS's experience going forward in quantifying bookings trends, this was probably a good move. During the last cc, AMAT told analysts that they would have sequential increase in bookings but did not quantify it. So the analysts were left to figure that out for themselves. And what we have witnessed is a bunch of analysts trying to discuss indirectly through the media their various views for bookings going into the earnings report and what would be viewed as a good quarter on this issue. And the market has been a witness to all this discussion and has misinterpreted much of it. But I would focus on what the big boys were doing on Friday during the price decline as opposed to what they were saying: thomsoninvest.net Punch in "AMAT" where it says "enter ticker." They were bargain hunting. By and large, the events of Friday were confined to AMAT in the sense that AMAT had by far the biggest price decline percentage wise in the semi capex large caps and many smaller caps even increased in price. FWIW, I think the bigger story coming out of the cc may well be on the subject of gross margins.