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

To: StanX Long who wrote (64327)	6/12/2002 1:25:56 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Applied Materials CEO: Asian, European, US Econ Improving By: Donna Fuscaldo, Of DOW JONES NEWSWIRES Tuesday June 11, 10:24 am Eastern Time biz.yahoo.com NEW YORK -(Dow Jones)- The Asian, European and U.S. economies are "slowly getting better," said James Morgan, chief executive of Applied Materials (NasdaqNM: AMAT - News) Inc. ( AMAT). Speaking at the Bear Stearns & Co . 13th annual technology conference here Tuesday, Morgan said even in Japan , there is a movement to get adjusted to the " new world realities." According to the executive, the chip equipment industry is hitting the first phase of a two-phase recovery. In the first phase, there is a consumer upturn, which he said is driving current chip demand. The second phase, he noted, is a return of corporate investment. While Morgan said some segments of the chip equipment industry are suffering from overcapacity, capacity for newer technology is running at 85% to 90% capacity. When Applied Materials reported fiscal second-quarter results last month, Morgan said the industry was in the first phase of recovery. The company then reported a 50% sequential increase in orders and predicted orders would rise another 10% to 15% in its current fiscal third quarter. Morgan declined to comment on the company's current financial targets for the quarter. Analysts, according to Thomson Financial/First Call, expect the company to report earnings of 5 cents a share and revenue of $1.3 billion in the quarter, which ends in July. -By Donna Fuscaldo, Dow Jones Newswires; 201-938-5253