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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (10802)	3/20/2003 8:21:59 PM
From: SemiBull	Read Replies (1) \| Respond to of 10921

SG Cowen sees upside for chipmaking equipment firms By Semiconductor Business News Mar 20, 2003 (11:49 AM) URL: siliconstrategies.com SG Cowen Securities Corp. has upgraded its outlook for semiconductor equipment makers Applied Materials, KLA-Tencor and Novellus, from 'market perform' to 'outperform'over the next few months to a year. SG Cowen defines “outperform” as being 10 to 25 percent above market average but did not say which markets the companies would outperform; the general market, the technology market, or the semiconductor equipment market. In its Morning Call newsletter today SG Cowen said: “We are upgrading AMAT, KLAC and NVLS to Outperform from Market Perform as we believe the risk/reward on the group has improved since the beginning of the year.” It adds: “We think current prices represent attractive entry points for investors with horizons of nine to 12 months. Despite heightened geopolitical risks, we believe that we're in the midst of a gradual cyclical recovery. There is continued evidence that IT spending and semis are gradually improving.” The comment said that the stocks could fall 20 percent from October 2002 lows but could rise between 35 to 50 percent and so on balance the reward outweighs the risk.