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

To: FiloF who wrote (36580)	8/10/2000 5:34:18 PM
From: William Griffin	Respond to of 70976

Well so much for the "Global Economy" Does Japan and Taiwan care if we have a soft landing?? What was AMAT %revs from US this Q? Seems I remember 15%. Nasdaq Falls 2.4% As Techs, Retailers Weigh on Market By DAVID RUNK WSJ.COM Technology stocks fell Thursday amid concerns about second-half earnings as the U.S. economy slows. But blue chips were little changed as a slight rebound by drug shares was offset by weakness in retail issues. The Nasdaq Composite Index closed down 93.09 points, or 2.4%, to 3760.41 after moving steadily lower throughout the day. The Dow Jones Industrial Average edged up 2.93 points to 10908.76 following the previous session's 71.06-point drop. Other major indexes were weak Thursday. The Standard & Poor's 500-stock index fell 12.57 to 1460.30, and the New York Stock Exchange Composite Index slipped 1.32 to 659.25. Barry Hyman, chief market strategist at Ehrenkrantz King Nussbaum, said the market's muted reaction to encouraging earnings news from tech leaders such as Applied Materials and Cisco Systems illustrates continued concerns about second-half earnings as the economy cools in response to the Federal Reserve's interest-rate increases. "There's still this debate as to how slow earnings are going to go,given the economic slowdown," Mr. Hyman said. "The good news is the Fed is done raising rates, but the bad news is that we don't know whether this soft landing is achievable." Shares of Applied Materials were down 2 7/8 to 69 1/4 by 4p.m. EDT after the manufacturer of chip-making equipment said fiscal third-quarter net income more than doubled,expectations. The stock had risen ahead of its report, but the company's solid performance failed to inspire the broader tech sector Thursday. The decline by Applied Materials helped send semiconductor shares lower, with the Philadelphia Semiconductor Index falling 2.2%. Dow component and chip maker Intel fell 1 3/8 to 62 3/16. Meanwhile, the biotech and computer sectors were among the weakest on the Nasdaq market. Cisco Systems, which supported the Nasdaq composite in its minuscule 4.95-point advance Wednesday, pulled back Thursday, falling 4 7/16 to 63 3/8. Meanwhile, some caution was seen Thursday ahead of the release of earnings from Dell Computer. Investors will look to Dell's report after Thursday's closing bell for an indication about how the personal-computer maker will hold up in the second half and to help assess the outlook for other companies. Dell's shares were down 1/16 to 41 3/4 ahead of the report.

To: FiloF who wrote (36580)	8/10/2000 5:38:57 PM
From: Cary Salsberg	Read Replies (3) \| Respond to of 70976

Have you noticed that some of these reports don't even distinguish between semi mfgs. and semi-equip mfgs. The analysts can't clearly and honestly explain the cycle because they would be required to explain why they are all at BUY at the top and HOLD at the bottem. The excellent report by AMAT is yesterday's news. It doesn't require all the reiterations and high targets. But analysts will only change these when the company gives negative guidance. By that time it will be too late. RE: "Whether or not doom is on the horizon is still a matter of opinion..." This is an imprecise statement. Nobody sees doom now, so it can't be on the horizon (i.e. visible). Doom (the down cycle) is lurking out there. How far out is the only question.