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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (2365)	8/14/2002 8:15:17 AM
From: Proud_Infidel	Read Replies (2) \| Respond to of 25522

Apparently they know what 04 eps will be.... 7:59AM Applied Materials cut to Outperform from Strong Buy at USB (AMAT) 13.46: USB Piper Jaffray downgrades to OUTPERFORM from Strong Buy. Although EPS and revs exceeded expectations, July orders of $1.78 bln were below guidance. Firm has lowered its FY03 rev est to $6.3 bln from $9.2 bln and EPS projection to $0.39 from $0.78 (Multex consensus $7.27 bln/$0.60). USB cuts price target from $35 to $15, or 20x calendar 2004 earnings.