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

To: robert b furman who wrote (8577)	1/26/2004 11:23:26 AM
From: Gottfried	Read Replies (3) \| Respond to of 25522

Fitz at it again: "10:04am 01/26/04 BofA sees chip equipment stock correcting 30% (AMAT, NVLS, KLAC, TER) By Tomi Kilgore NEW YORK (CBS.MW) - Banc of America analyst Mark Fitzgerald believes the semiconductor equipment sector have begun a correction that could send the stocks in the group down 30 percent. "It's not the end of the cycle but it is the beginning of the end of the momentum game," Fitzgerald said in a note to clients. "As momentum rolls over, the only support for semi-equipment will be valuation." Among chip equipment makers, Applied Materials (AMAT) was up 8 cents at $22.60, Novellus Systems (NVLS) was adding a dime to $39.99, KLA-Tencor (KLAC) was 10 cents better at $58.72 and Teradyne (TER) gained 12 cents to $27.80. Those stocks fell 7.7 percent, 6 percent, 5.6 percent and 8.6 percent, respectively, last week." cbs.marketwatch.com; Comment on bolded sentence: Since valuation [PE] is typically lowest near cycle peaks, that is not an astute observation. Gottfried