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

To: Tony Viola who wrote (35851)	7/21/2000 4:48:40 PM
From: Math Junkie	Read Replies (2) \| Respond to of 70976

"Next year? Andy said he couldn't estimate cap expenditures yet." Maybe this is part of the problem. Wall Street, in it's current mood, does not like uncertainty. I think another source of uncertainty is the fact that the Fed is going to do whatever it takes to engineer a reduction in economic growth. The capital equipment business has an obvious connection to economic growth, so this has to take effect sooner or later. Trouble is, no one knows when or by how much. The industry's orders and sales have always exhibited a considerable time lag from the rest of the economy. Another issue is bookings growth. It is true that bookings are still growing month-over-month, but they are not growing as fast as they were in April. Since stock prices for growth stocks tend to be affected by how much growth there is, that could explain why AMAT's stock is not as high as it was back then.