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

To: Proud_Infidel who wrote (6556)	7/24/2003 4:06:53 PM
From: BWAC	Read Replies (1) \| Respond to of 25522

Brian they seem an awful large amount of sales away from making money to me. BRKS anyway.

To: Proud_Infidel who wrote (6556)	7/24/2003 5:35:32 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

4:20PM Varian Semi beats by $0.01, guides in line (VSEA) 35.40 -0.06: Reports Q3 (Jun) earnings of $0.04 per share, $0.01 better than the Reuters Research consensus of $0.03; revenues fell 12.6% year/year to $82.8 mln vs the $83.3 mln consensus. Company sees Q4 revenues $78-88 mln, consensus $87 mln 4:43PM KLA-Tencor reports in line with consensus. (KLAC) 52.13 -1.28: Reports Q4 (Jun) earnings of $0.15 per share, in line with the Reuters Research consensus of $0.15; revenues fell 17.4% year/year to $308.3 mln vs the $308.9 mln consensus.

To: Proud_Infidel who wrote (6556)	7/25/2003 10:33:11 AM
From: runes	Respond to of 25522

<<automation guys...trading around 1-2X sales while much of the rest of the sector trades at 5 or 6 times sales.>> I think you will find that the wafer handling segment runs at lower P/S period. I expect that their margins are much lower than the process equipment because of the lower amount of R&D involved. Which means that the profits aren't as fat and juicy when the good times roll. ...Back in Jan '00 ASYT was at a P/S of 5 while AMAT was around 15. (Somebody should check me on this - I don't normaly do P/S calculations and may have messed up a price split or something). A second thing to consider - in the next phase of the recovery, most of the capacity adds will be in build-outs of existing capacity. This may not need that much in the way of automation equipment. It will be later in the recovery cycle when new fabs are being built that the automation will see a proportionaly greater share of the capital spending.