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

To: michael97123 who wrote (46964)	5/18/2001 1:47:46 PM
From: advocatedevil	Read Replies (1) \| Respond to of 70976

ST Trading: RE: "I am puzzled why you are taking such a stand now. What is making you so bearish in the short term given the dow move?" Mike, I hope you don't mind this simplistic response... Companies aren't buying chip equipment at the moment, they're not expected to buy much in the near-term and there's little to indicate that they'll be buying all that much in the intermediate-term. AMAT currently has a high valuation (IMO), with a portion of the next up-cycle already priced in. Hopeful comments by various companies have had a recent positive impact on the semis. I don't think additional hopeful comments are going to have an additional impact. Going forward, I suspect that real numbers will be needed as confirmation. It may take a little time before any real numbers come in. So for now, I continue to believe the risk remains to the downside over the short-term. AdvocateDevil