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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: JSLyons who wrote (3018)	5/5/2002 12:50:49 PM
From: Return to Sender	Read Replies (2) \| Respond to of 95442

From Briefing.com: 3:00PM Linear Tech announces 10 mln share buyback (LLTC) 35.66 -0.94: Announces that its Board of Directors has approved a stock repurchase program in which up to 10 mln shares of its outstanding common stock may be repurchased from time to time over the next two years. 2:59PM Cypress Semi placed under review by Moody's for possible downgrade (CY) 20.75 -0.62: The review is prompted by the continued weakness in co's networking, storage and wireless end markets... Viewing the balance sheet on a consolidated tangible net worth basis, as of March 31, 2002 debt had increased to 60% of total capitalization from 34% at the end of FY00. 2:18PM Applied Materials Intraday (AMAT) 22.47 -0.40: -- Technical -- Another semiconductor stock that stabilized near its 200 day sma this morning and is now edging back toward its intraday recovery of 22.60. Continued posture above 22.22 leaves is positioned for an extension of the bounce with initial resistance near 23 followed by 23.40/23/50. Failure increases potential for a run at the lows. 1:01PM Nasdaq Composite Intraday : -- Technical -- Index flirting with support highlighted this morning (1605/1600). While certainly due for a corrective bounce, needs to sustain a move above the 1612 area and then take out 1620/1625 to improve the very short term tone. An inability to accomplish this argues for further selling with next support at 1580. 12:43AM KLA-Tencor Intraday (KLAC) 52.86 -2.35: -- Update -- Technical -- Stock has established a minor fresh session low but it has thus far continued to hold near its 200 day sma (52.42). If able to sustain a posture above this floor and take out initial resistance in the 53.10 area, there is potential for some follow through upticks. Next resistance is at 53.65/53.70. Failure leaves the door open to new lows with next near term supports at 52.15 and 52. Semiconductor equipment stocks among the notable laggards. As mentioned in previous comment, the Philadelphia Semiconductor Index (SOX 486.60), which includes semi equipment stocks, has broken through important support of 500 and has continued to lose ground. Intraday support for the Index stands at the 486 level, followed by 475. 9:57AM Nasdaq Composite Intraday : -- Technical -- The index declined to its lowest level since Oct 10 (Nasdaq 100 underperforming) with the semiconductor pacing the way following the SOX bear breakout. Initial support is in the 1621/1620 area with relatively little of interest thereafter until the 1605/1600 area. The first step to improving the short term bias is a run back through 1635 and the lows from the last several days near 1640. 9:38AM Sox breaks key 500 support level 497.40 -6.65: 9:36AMASML Holding downgraded at DB (ASML) 19.78 -1.25: Deutsche Bank out of Europe in a pre-open note downgrades to MKT PERFORM from Buy due to: 1) near-term deceleration of recent capex upgrades, 2) expected further near-term DRAM price weakness, and 3) increasing evidence that 300mm investment will subdue the semi capex recovery. 1:41PM IBM (IBM) 81.66 -2.20: In light of IBM stock's 30% decline YTD, Soundview declares the shares to be at bottom of cycle and names the current price as a good entry point. Checks suggest that the problems that led to a Q1 rev and profit miss were not as much related to a collapse in macro demand but due to a collection of IBM specific issues which have since been resolved. Data from various sources lead Soundview to believe that mainframe demand is back on track and that mainframes revs will be flat to slightly up in Q2 y/y; notes new turbo model will start shipping next week. 11:17AM Amkor (AMKR) 17.44 -2.00: Yesterday, company reported a Q1 EPS miss, upside to revenue estimates, and positive Q2 revenue guidance. However, the stock is under significant pressure today, trading down 10%, despite several upbeat analyst comments... Robertson Stephens reiterated Buy rating and price target of $25, saying, with its investments in Japan, China and Taiwan, firm believes company is well positioned to outpace its Taiwanese competitors in the coming upturn. CIBC Wrld Mkts reiterated Buy and upped price target to $30 from $20. Also, Thomas Weisel reiterated Buy rating and price target of $27 based on solid March qtr results and June qtr guidance. 10:05AM Dupont Photomask (DPMI) 35.39 -0.38: Stock trading slightly lower (-1.1%) as, before open, Prudential initiated coverage with a Hold rating and price target of $40. While a leader in the photomask industry, firm thinks several challenges remain for the photomask industry in general and for DPMI. Firm believes company could benefit from both improving average selling prices as we move further into the subwavelength era and units as total number of new chip designs increase as semi recovery progresses. However, firm thinks peak-margin expansion could prove difficult, and believe the stock is fully valued at current levels. finance.yahoo.com^SOXX+^IXIC&d=t Jonathan if the FED and CSCO do not say all the right things this week we could retest the September lows. I like KLIC a lot down at these prices but it could go lower. Is there an AIM book you would recommend an investor read as a start? Thanks, RtS