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

To: hdrjr who wrote (34684)	3/31/2000 4:45:00 PM
From: Fred Levine	Read Replies (1) \| Respond to of 70976

hdjr--IMO, there is a reason to buy AMAT (and other comparable stocks). The reason is that the whole economic picture is historically bigger, better, ans safer than any time that I can remember. The recent GNP rising over 7% is tremendous. In addition, new industries are emerging, and they seem to have the chip at their core. Chips are becoming ubiquitous, be it in autos or refrigerators or TV's or voice communications. Many people don't yet have computers or cell phones yet, and, IMO, after they buy their 1st one, they will want a cheaper and better model. I'm now on my 6th computer. Central to this, IMO, is AMAT and the growing need to manufacture chips. Clearly the PE is historically not justified, but the old values do not factor in global potential and the enormous potential for growth. I've been in since it was 6 and I still love it. IMO, with a LT view, these blips are interesting. 5 yrs from now, and several splits later I am hoping my point is validated. Good luck in oil, too. I just don't see oil growing at near the rate as electronics. fred