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

To: Return to Sender who wrote (11167)	8/10/2004 4:41:37 PM
From: matt dillabough	Respond to of 25522

16:33 NSM cuts Q1 revenue guidance (15.70 +0.08) Co lowered its revenue guidance for Q1 (Aug). NSM's new guidance is for revs to decline 4-5% from the $571.2 mln revs achieved in the recently completed Q4 (previously guided on 6/10, during its Q4 earnings conference call, for Q1 revs of flat to up 3% sequentially), Reuters consensus is $579.1 mln. During that 6/10 conference call, co indicated that turns orders were expected to decrease during Q1. However, so far this quarter the actual decrease has been much more significant than originally expected. The lower than expected turns activity is primarily due to a combination of factors. The first and most significant is related to the distribution channel, where NSM's distributors slowed their order patterns more than expected and adjusted inventory levels to reflect shortened lead times. In addition, growth rates for flat panel display products softened and demand from certain Chinese wireless handset manufacturers was weaker than expected.

To: Return to Sender who wrote (11167)	8/10/2004 7:23:30 PM
From: Cary Salsberg	Read Replies (1) \| Respond to of 25522

RE: "...is it not possible for a company to be successful showing long term growth and still be treated as cyclical in nature by the investment community?" It is easier in 2004 than it was in 1999. In 1999, the history was consistent, year in, year out, sales, earnings, EPS, and share price growth. Nobody bought the cyclical label for the company and its stock. Then came the bubble. It produced a more rapid increase in the measures that had consistently risen to 1999 followed by a decrease in all those measures. That post bubble decrease has enabled the analysts to use the cyclical label and be believed. When everybody uses the same label and acts in unity, the label becomes "true", for a while. I hope it stays "true" until I am able to buy more when some CDs come due at the end of 2004 and beginning of 2005.