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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Art Bechhoefer who wrote (12566)	7/6/2000 8:15:46 AM
From: Greg h2o	Respond to of 60323

even more interesting is this note on semi equip cos... certainly contradicts yesterday's report (but, it is a different analyst). does continue to mention slowdown in flash memory, though. SEMICONDUCTOR EQUIPMENT Glen Yeung Company Name Ticker Rating Close (07/05) Applied Materials Inc. AMAT 1H $83.44 ATMI Inc. ATMI 2H $44.50 Credence Systems CMOS 1H $45.56 Electro Scientific Industries ESIO 1H $37.81 KLA-Tencor Corp. KLAC 1H $50.06 LAM Research Group LRCX 1H $32.38 Novellus Systems NVLS 2H $51.50 Veeco Instruments VECO# 2H $68.44 Semiconductor Equipment Outlook Remains Positive Despite Chip Downgrade Equipment stocks were hit hard on semiconductor downgrade While flash memory capacity is area of concern, we believe DRAM, microprocessor and foundry expectations remain decidely positive; these 3 areas account for 70% of capital spending While flash capacity aggressively added, flash is not capital intensive (estimated at 10% or less of capital spending) Continued spending from non-flash sectors based on the fact that there was only a relatively small amount of overall effective worldwide capacity added in 1999 (estimated to be 1% in 0.25micron equivalents) The result is that orders should remain strong through 1H01 While focus on downturn limits upside potential, we believe strong 2H00 bookings from healthy and capital-intensive segments should support higher prices