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

To: Fred Levine who wrote (5350)	2/5/2003 9:51:42 AM
From: Jeffrey D	Respond to of 25522

Well, unlike Bear Stearns, Goldman Sachs still covers the semi equip sector.Let's see what they say. No negative outlook....but....I wonder, what are they really thinking and doing? Jeff << Feb 03, 2003 AMAT PREANNOUNCEMENT: LIMITED FUNDAMENTAL IMPLICATIONS FOR COMPETITORS A. Summary: While Applied's negative preannouncement raises many questions about the state of the semi equipment industry, we believe the issues are mostly Applied specific and are therefore sticking with our positive view on the semi equipment stocks for the following reasons: (1) supply/demand dynamics and technology transitions point to industry recovery at first sign of end-demand improvement, (2) fundamentals recovering for other semi equipment companies, (3) valuations approaching historical troughs, and (4) very negative sentiment as evidenced by both anecdotal and short interest factors. Novellus (rated Outperform) remains our top pick in the group and Applied remains an Outperform on relative valuation. Our coverage view remains Attractive.