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

To: Andreas who wrote (41992)	2/10/2001 9:31:04 AM
From: advocatedevil	Respond to of 70976

Credence Systems CEO: "Sustained downturn" & layoffs FREMONT, Calif., Feb. 9 /PRNewswire/ -- Credence Systems Corporation (Nasdaq: CMOS - news), a leading manufacturer of automatic test equipment (ATE) for the worldwide semiconductor industry, today announced a number of actions designed to reduce the Company's cost structure in line with previously announced lower anticipated revenues for the first quarter of 2001. Effective today, the Company's workforce will be reduced by approximately 200 people, representing 14% of the worldwide total headcount. Additionally, the Company indicated that all remaining employees will be required to take one week of time off per quarter until further notice. Other initiatives, including the consolidation and reorganization of certain functions and operations, and the control of discretionary expenses, are also being implemented. ..."We believe the semiconductor industry is in the early stages of a sustained downturn and a recovery may not take place until late 2001 or 2002"... biz.yahoo.com AdvocateDevil

To: Andreas who wrote (41992)	2/10/2001 11:26:49 AM
From: Gottfried	Respond to of 70976

Andreas, if AMAT dropped to 30 it wouldn't shock me. Others are less worried than Corrigan and I just don't know how things will play out. AMAT does get a lot of verbal support from pundits these days. TA indicators I watch don't say 'buy' right now. But these indicators are not designed to get you in at the bottom - only after an uptrend has been re-established. Maybe averaging down - if you're thinking of buying - is OK. We had the discussion of where the bottom price might be here a few weeks ago. I think consensus was near 30, if history accounts for anything and Applied keeps its corporate nose clean. Gottfried