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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (40863)	3/23/2004 9:10:28 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70355

14:58 AMAT Applied Materials Analyst Day/ Annual Stockholders Meeting Preview Applied Materials (AMAT) is scheduled to host its annual shareholder's meeting tomorrow at 11:00 AM PT, and an analyst meeting from 1:30-4:00 PM PT. CSFB doubts that the co will specifically comment on guidance (co's Q2 rev/EPS ests are in-line with guidance at $1.88 bln and $0.19), and expects the co to indicate that business conditions continue to be robust, and therefore they don't expect the event to be a major catalyst. However, firm says there is little to nothing AMAT can say to provide confidence to the investment community; the catalyst for a trade in the group will not be a re-confirmation of what the mkt already knows is strong near-term fundamentals for equipment co's, it will come from either co's at the front of the food chain providing better near-term outlooks, and/or the mkt willing to make a seasonal trade on what has historically been a stronger second half for technology fundamentals. Firm believes that we are in the sweet spot of the chip cycle, but they are concerned that sequential supply will accelerate moving into Q3.