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

To: Return to Sender who wrote (17822)	8/9/2004 11:43:15 AM
From: Donald Wennerstrom	Read Replies (3) \| Respond to of 95617

RBC Capital Markets (AMAT) JagNotes <<9 August 2004, 07:55am ET AMAT: Reit Sector Perform - We expect Applied to post a strong July Q3. We expect the company to meet or slightly beat our estimates of $2.15B and $0.25.Flat Q4 order guidance: We believe that the order book for Oct Q4 looks like it will be slightly up (a few percent). However, we do expect management to be somewhat cautious and so we expect Q4 order guidance of +/- 5%.AMAT is currently trading at 14.2 X our CY2005 EPS estimate of $1.15. Our Price target of $25 is based on 22X our CY 2005 EPS estimate. We see approximately 20% downside risk to a "trough" valuation level, but strong long-term earnings potential. We continue to rate the stock Sector Perform and Average Risk.>>