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

To: Sam Citron who wrote (10122)	6/4/2004 8:32:59 PM
From: Cary Salsberg	Respond to of 25522

RE: "...potential to derail the economic recovery..." If the economic recovery is "derailed" by actions of terrorists, the price AMAT falls to may "present a buying opportunity". The key to the semi industry is the monotonic unit volume function. The bubble changed the character of the function, temporarily, I believe. It produced the longest semi equip downturn followed be what is still a very muted, by historical standards, upturn. Semi market sectors are PC (and server), communications, consumer, and industrial. All are highly sensitive to economic conditions. Semi companies will outperform the economy throughout the macro economic cycle, but semi equips will not during weak macro economic times.