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

To: StanX Long who wrote (58518)	1/8/2002 3:54:38 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Chip equipment recovery starts, will peak in '04, says analyst upgrading stocks Semiconductor Business News (01/07/02 12:36 p.m. EST) siliconstrategies.com MINNEAPOLIS -- A recovery cycle now appears to be starting in the recession-hammered semiconductor equipment business, with sales for chip production tools expected to peak in 2004, according to an analyst at U.S. Bancorp here today. Based on this new outlook, stocks for a number of equipment suppliers were upgraded by analyst Greg Konezny, who tracks the segment at the investment firm. "We expect the under-investment in integrated circuit manufacturing technology over the last six months will soon reverse and return to more normalized levels over the next 18 to 24 months," Konezny said. "Therefore, we expect equipment order rates will begin to recover during the first half of 2002, with expectations of acceleration during the second half of the year and into 2003." Based on U.S. Bancorp's research and new outlook, Konezny today upgraded his rating on Applied Materials, Coherent, Entegris, Newport Corp., and Veeco Instruments to a "strong buy" from "outperform." He also upgraded stocks for KLA-Tencor and Teradyne from "market perform" to "outperform."