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

To: Joseph Beltran who wrote (48951)	7/9/2001 9:05:01 PM
From: Cary Salsberg	Read Replies (1) \| Respond to of 70976

The lows in the sector will be put in when the market sees the business lows and can't see the recovery. The market doesn't seem to be able to see anything, now, except last year's prices. I am not sure that the market discounts 9-12 months. I have mostly read 6 months. I don't think the 1 year recovery time is based on any hard data. 12 to 18 months for networks could mean longer for semi-equips when fab utilization is so low and so much new equipment was sold last year. The institutions exit because of fear. Fear that the prices will go lower and stay there too long for institutions' reporting cycles.