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

To: Gottfried who wrote (2707)	8/29/2002 1:09:58 AM
From: chojiro	Read Replies (1) \| Respond to of 25522

Many here understand the industry unusually well and put their faith in FA - however long it takes. And when they talk about stock price as if they are analysts That's exactly why thread sentiment is important. You see, on another stock in a sector they don't know jack about They can see it objectively And perhaps be great T/A callers. But when they are so close to the industry they can't see see the stock price objectively. I've seen it happen over and over on stocks that have fallen more than 90% from their respective tops. Maybe this is just one of the characteristics of this bear market. I don't know. Perhaps this time(for this thread/stock) it IS different this time. Or maybe not until the techies finally give up on calling their favorite companies great buys(or "investments" for the long term) instead of looking objectively at things will we find some reason in the equities market.

To: Gottfried who wrote (2707)	8/29/2002 8:19:58 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Another day, another downgrade.....at some point this downdraft several months in the making is already priced in! Before the Bell-Chip equipment stocks decline Thursday August 29, 8:16 am ET NEW YORK, Aug 29 (Reuters) - Chip equipment stocks declined in pre-open trading on Thursday after UBS Warburg downgraded shares of four companies in the sector, citing weak orders and the uneven economy. UBS Warburg cut its ratings on Novellus Systems Inc. (NasdaqNM:NVLS - News), Lam Research Corp. (NasdaqNM:LRCX - News), Newport Corp. (NasdaqNM:NEWP - News) and LogicVision Inc. (NasdaqNM:LGVN - News). "The recovery in the economy remains lackluster. While we had not counted on corporate IT spending in the fourth quarter, it now appears that the U.S. consumer will disappoint," UBS Warburg analyst Byron Walker wrote in a research note. "We are beginning to hear of order push-outs in Taiwan and elsewhere." Shares of Novellus traded at $23.20 on the Instinet electronic brokerage, down from a close of $24.81 on Wednesday. Shares of Lam Research slid to $11.50 from a close of $11.92. Newport Corp. shares had not yet traded but were indicated to open lower, according to Instinet. LogicVision shares were unchanged from Wednesday's close of $2.59. Coffee and doughnut chain operator Krispy Kreme said its second-quarter earnings rose nearly 50 percent, driven by new store and market openings, as well as higher same-store sales. Shares had not traded in the pre-open. The closed Wednesday at $36.36 on the New York Stock Exchange. Looking at the broader market, equity-index futures indicated stocks would open lower. The Standard & Poor's 500 September contract slid 2.50 points to 914.00 and the Nasdaq 100 contract declined 5 points to 941.00.