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

To: michael97123 who wrote (63827)	5/16/2002 2:47:13 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 70976

<<Would you be looking to switch out of equip and into the intels of the world?>> I won't be holding any AMAT, unless I can get it for 22.5 or less. Currently holding a lot of TXN, ALTR, QCOM. It's not so much that I think the semis have better prospects than the semi-equips, it's mainly a valuation issue. The semis are high, but AMAT is even higher, too high for me. Plus, if in fact $27.5 is resistance, then AMAT typically can be expected to (several times a year) make 25% pullbacks (during upcycles). A 25% pullback from $27.5 gets us to $21. This would just be normal volatility within the channel, and would not indicate the cyclic upturn is over.