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

To: Paul V. who wrote (34782)	4/13/2000 1:42:00 AM
From: Jeffrey D	Respond to of 70976

AMAT and friends from Robertson Stephens dated 04/12/2000. Jeff << TECHNOLOGY Raising Estimates Applied Materials, Inc. (NASDAQ:AMAT) F2000E EPS: $2.22 from $2.15 F2001E EPS: $2.90 from $2.83 Strong Buy Sue Billat, Semiconductor Equipment/Foundries "We believe that the industry bellwether, Applied Materials, is on track to meet our new second quarter fiscal 2000 earnings-per-share estimate of $0.56," said Billat. "In our opinion, Applied is well positioned to benefit from Intel's announcement of a 20 percent upward revision in capital spending for calendar year 2000 to $6 billion. In addition, we believe that Applied has established traction in its process diagnostics and control (PDC) division, achieving the first milestone of becoming the number one supplier of SEM defect review stations." Lam Research Corporation (NASDAQ:LRCX) F2000E EPS: $1.28 from $1.27 Strong Buy Sue Billat, Semiconductor Equipipment/Foundries "We anticipate strong earnings and bookings from Lam when the company reports March quarter results and, accordingly, expect it to comfortably meet and potentially exceed our new $0.36 earnings-per-share estimate," said Billat. "In addition, we believe that investor concerns stemming from Lam's recent implementation of a new manufacturing execution system are overblown and do not expect it to weigh adversely on the company's fiscal third quarter performance." KLA-Tencor Corp. (NASDAQ:KLAC) F2000E EPS: $1.13 from $1.10 Strong Buy Sue Billat, Semiconductor Equipment/Foundries "We believe that KLA-Tencor's business is on track to meet our earnings-per-share estimate of $0.33 for the fiscal third quarter," said Billat. "We expect the company to show strong March quarter bookings and, in our opinion, a positive outlook as new fabs tend to front load purchases of process monitoring equipment." Novellus Systems, Inc. (NASDAQ:NVLS) 2000E EPS: $1.68 from $1.65 Strong Buy Sue Billat, Semiconductor Equipment/Foundries "We expect Novellus to show strong first quarter 2000 revenues, earnings and bookings, driven mainly by the continued industry-wide capacity buying," said Billat. "We are, accordingly, looking for the company to report in-line or comfortably ahead of our new first quarter 2000 $0.40 earnings-per-share estimate." Teradyne, Inc. (NYSE:TER) 2000E EPS: $2.40 from $2.30 Strong Buy Sue Billat, Semiconductor Equipment/Foundries "We believe the strong fourth quarter business levels continued to build in the first quarter, and we are raising our March quarter earnings-per-share estimate to $0.53, from $0.48, accordingly," said Billat. "As the world's leader in test equipment, Teradyne is well-positioned to benefit from the capacity constraints that are prevailing throughout in the semiconductor industry, in our opinion."

To: Paul V. who wrote (34782)	4/13/2000 10:06:00 AM
From: Lester e.	Read Replies (3) \| Respond to of 70976

This is not a time for panic. High tech is still in its infancy and will continue to grow, but fly by nighters will fall by the wayside. If you stick with the gorillas like AMAT and CSCO and hold for the future, in my opinion, you will profit mightily. This correction is a buying opportunity, but only ifyou have patience and stick with the big boys. It will be tough for a while. Just an observation from the old boy. Lester e.