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

To: Kirk © who wrote (5861)	3/17/2003 9:23:30 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 25522

I agree on the too much debt and too little cash flow point. But it used to be that many (most?) companies would try to outspend their competition at the bottom of the cycle so as to gain an advantage at the top of it. Now are you saying that the industry has collectively come to the conclusion that they are not any better at guessing the bottom than anyone else and so they are not going to play that game again? Or the reason that we are not seeing pick up in spending is because they don't think the recovery is near enough to justify capex increases? In other words have they decided to be reactive to the cycle or they are still trying to look forward but see nothing?