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

To: StanX Long who wrote (62086)	3/14/2002 2:37:35 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Something Smells Bearish? Blame the SOX's Villains By James J. Cramer Wednesday March 13, 2:36 pm Eastern Time biz.yahoo.com The Philadelphia Stock Exchange Semiconductor Index can't lead us higher, but it sure can take us lower. That's the way you have to look at this move in the chip equipment makers, a group of highfliers that mutual fund managers have elevated into the new blue-chips to replace the likes of EMC (NYSE:EMC - news), Sun Micro (NasdaqNM:SUNW - news) and JDS Uniphase (NasdaqNM:JDSU - news). Today's villain is surely this ultimate high-performance cohort that is Applied Materials (NasdaqNM:AMAT - news), Novellus (NasdaqNM:NVLS - news) and KLA-Tencor (NasdaqNM:KLAC - news), the stocks that are so loved as to be almost worshiped by those "in the know." I use the SOX as shorthand for these stocks because, weirdly, even though they are manufacturers of equipment instead of semiconductors, they are regarded as the true drivers of the group.