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

To: Ian@SI who wrote (32675)	9/30/1999 5:36:00 PM
From: Gottfried	Read Replies (2) \| Respond to of 70976

Ian, can you post the full text of this DLJ logic? G. [end]

To: Ian@SI who wrote (32675)	10/1/1999 6:09:00 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 70976

Ian: Re: "DLJ, for some unknown reason, thinks there'll be a PC shortage, which will in turn lower demand for DRAM which will cause spot prices to drop, which will cause the chipmakers to buy less equipment. I think DLJ's call is totally flawed with an absolutely incorrect starting premise." Yes, of course this thinking is flawed. But the glass is always half empty in October in the midst of a correction. The earthquake has given some analysts a springboard to poo - poo the sector. That is the important point. And the DRAM spot price drop has added some fuel to the fire. This sector is vulnerable. I can think of better stories to weave about the semi equips but DLJ's take is very creative. And let us not forget about the Japanese nuclear spill. Hitachi has shut down as a result. Time for more stories? You can count on it.