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

To: Proud_Infidel who wrote (32399)	9/8/1999 12:08:00 AM
From: A. Edwards	Read Replies (1) \| Respond to of 70976

7 September 1999 Merrill Lynch & Co. Mark F. FitzGerald, Vice President Thomas R. Diffely, Industry Analyst Equipment Stocks Catch a Second Wind Reason for Report: Out of the Fab: Weekly Industry Update Investment Highlights: · After some mid-August blues the semiconductor capital equipment companies have come back strong and many of the stocks are approaching new records. However, we do not feel these stocks have run out of steam and believe the strength in the end markets will provide further upside. · Invigorated by spunky DRAM, logic and foundry markets we believe the equipment companies will post sequential growth into next year. Our favorite names continue to be those companies with advanced technology portfolios: Applied Materials, Novellus and KLA Tencor have the most momentum heading into the fall. · We believe fab capacity at both DRAM and Logic vendors is becoming an issue and expect several of these companies to raise their capital spending plans over the next few months to take advantage of hot end-markets.