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

To: Shoibal Datta who wrote (44300)	3/22/2001 3:06:45 PM
From: Shoibal Datta	Respond to of 70976

Per briefing.com: 14:43 ET Applied Materials (AMAT) 46 5/16 +1 7/16 (+3.2%): -- Update -- CIBC World Markets taking the conservative route by lowering estimates to the low-end of the whisper range. Cuts CY01 est. to $1.23 from $1.66 and FY01 forecast to $1.47 from $1.75. Firm's FY02 forecast goes to $2.33 from $2.63. AMAT's implied PE on FY '02 earnings at a stock price of 48 is 20.6

To: Shoibal Datta who wrote (44300)	3/22/2001 3:10:42 PM
From: Jacob Snyder	Read Replies (2) \| Respond to of 70976

It is exactly that volatility which makes this a good trading stock. There is a constant tug of war, with abrupt changes in short-term sentiment between: Fear: fear that the stocks are still overvalued, that we are in a bear market, that demand for chips will continue to slump, semi capex budgets will continue to get steadily cut, bookings will continue to fall fast, and AMAT will, one day, abruptly drop to 20. Greed: greed, because everyone knows the longterm story is intact, the rebound is inevitable at some point, and everyone wants to be on board for the next time the stock zooms to all-time highs.