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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (9655)	5/1/2003 3:59:37 AM
From: StanX Long	Read Replies (1) \| Respond to of 95645

Comments on resent AMAT news, I like the last, net positive, Stan. MORGAN (STREET): Explaining the timing of the handover, Morgan said on a conference call, "We wanted a management team in place before business picked up so we would have the opportunity to build credibility with you [Wall Street analysts] and other people." ___________________________________ It looks like a clean deck was what it took to get the new guy to come over to amat. They must have wanted him badly. ___________________________________ No comments that Mike Splinter is new pres/ceo at AMAT? Morgan still chairman of board. maydan emeritus ___________________________________ Perhaps NVLS has been kicking butt better than given credit. ___________________________________ This is shocking news both because I had not heard of it being in the cards for AMAT. And it is shocking to hear about Applied Materials on this thread <g> ___________________________________ We'll see how the market reacts tomorrow. I don't like the surprise but at least it does not look like another Tyco either. ___________________________________ Morgan has been talking about retirement or a lessor role at AMAT for some time. He turns 65 soon. I seem to recall a local article on him saying he and Becky (his wife and former CA senator who retired in 1998) wanted to spend more time on their charity activities. From the press release, it sounds like he will be there in a mentor and leadership roll for as long as needed. I imagine he owns considerable AMAT stock so it would make sense to make sure there is a good transition. I look at it as similar to the leadership change at IBM and GE that seemed to be well managed transitions. ___________________________________ AMAT holds an internal Engineering and Technology conference every year, where several hundred of the top engineers from the company meet, give presentations, etc. Typically a speaker from outside comes in to give a key speech. At the last conference (August 2002) the speaker was from Intel. He pretty much blasted AMAT for having too many high level managers. Some talks I've had with friends still at AMAT in the last few weeks hinted about "some Intel guy" coming in and cleaning house. I was surprised with some of the names-even at the V.P. level-that were let go. It'll be very interesting to see how this all plays out. ___________________________________ Applied Materials names Intel veteran CEO Thursday May 1, 3:23 am ET By Elinor Mills Abreu SAN FRANCISCO, April 30 (Reuters) - Applied Materials Inc. (NasdaqNM:AMAT - News), the biggest maker of semiconductor manufacturing equipment, on Wednesday named an Intel Corp. veteran to succeed James Morgan as chief executive, who stepped down after a 27-year run. ___________________________________ "The big challenge is how to get AMAT back to growth and how to grow within a market that is pretty difficult at this period of time," said Splinter. Over the next 90 days or so, the focus will be on what products to align with what markets and what opportunities there are for AMAT, he said. ___________________________________ ANALYST(STREET): Analysts said a management transition had been expected, though the exact timing was somewhat of a surprise. "I would argue it's a net positive to bring in somebody from a leading customer," said Morgan Stanley analyst Steve Pelayo, characterizing Splinter as "a high-caliber guy." "While Applied has a very good market share, it opens up the opportunity to increase that share further. I don't see the downside here." He added it would be a mistake to think Morgan was being ushered out. "Morgan has done a phenomenal job, and he's staying involved. If anything, I would argue this just added more brain talent."

To: Gottfried who wrote (9655)	5/1/2003 8:40:17 PM
From: Gottfried	Read Replies (1) \| Respond to of 95645

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