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

To: Donald Wennerstrom who wrote (15519)	6/2/2004 4:42:37 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95368

Here is another "for the record" on today's action. <<Chip equipment stocks weak on Citigroup downgrade 2 June 2004, 2:42pm ET SAN FRANCISCO, June 2 (Reuters) - Shares of semiconductor manufacturing equipment makers fell on Wednesday after a Citigroup Smith Barney analyst warned that prices may have already peaked. Analyst Timothy Arcuri lowered his investment rating on industry leader Applied Materials (NASDAQ:AMAT) to "hold" from "buy," and cut his rating on Teradyne Inc. (NYSE:TER) to "sell" from "hold." "Our analysis suggests chip makers' capacity utilization will peak for the cycle in (the second quarter)," Arcuri wrote in a research note. "Therefore, most equipment stocks have likely peaked for the cycle on an absolute basis." Arcuri said he would steer investors to shares of DuPont Photomasks Inc. (NASDAQ:DPMI), Lam Research Corp. (NASDAQ:LRCX), and MEMC Electronic Materials Inc. (NYSE:WFR). Applied Materials shares fell 59 cents, or 4 percent to $19.09 on Nasdaq. Teradyne shares fell 52 cents, or 2.4 percent, to $21.45.>>