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

To: matt dillabough who wrote (11654)	10/8/2004 9:22:26 AM
From: matt dillabough	Read Replies (1) \| Respond to of 25522

AMD Advanced Micro: SG Cowen lowering estimates on Flash weakness, recommends investors avoid stock (14.11 ) -- Update -- Although AMD delivered excellent rev growth in its microprocessor biz and guided for stronger than normal seasonal growth in Q4, SG Cowen recommends investors avoid the stock. Firm concerned that AMD could lose significant share and see intense pricing pressure in its microprocessor biz in Q1 as INTC attempts to burn off excess inventories. In addition, believes that the inventory correction in the flash market could be longer than firm originally anticipated, resulting in a weaker outlook.

To: matt dillabough who wrote (11654)	10/8/2004 11:40:11 AM
From: Proud_Infidel	Respond to of 25522

UPDATE 1-Chip tool shares fall as Pru issues neutral rating Fri Oct 8, 2004 11:08 AM ET (recasts lead; adds analyst quote in paragraph 2, stock declines in paragraph 4 and additional details in paragraph 9) BANGALORE, Oct 8 (Reuters) - Prudential Equity Group on Friday started coverage of the U.S. semiconductor equipment sector with a neutral rating and set recommendations on seven stocks in the group. "Long term growth remains challenging," analyst Ben Pang cautioned in a research note to clients. Pang rated sector leader Applied Materials Inc. (AMAT.O: Quote, Profile, Research) as "neutral" and KLA-Tencor Corp. (KLAC.O: Quote, Profile, Research) with an "overweight" share rating. In morning trade, Applied Materials fell 4.5 percent to $16.39 and KLA-Tencor lost 4.0 percent to $41.27. Novellus gave up 3.3 percent to trade at $26.53, while other rated stocks fell by lesser amounts. All trade on the Nasdaq. Setting a $18 price target for Applied Materials, Pang expressed concerns that the company's "fourth-quarter earnings and order forecast could be at the low end of expectations." KLA-Tencor, for which he set a $55 price objective, would gain from the problems of others, he said. Prudential also initiated Novellus Systems Inc. (NVLS.O: Quote, Profile, Research) and Brooks Automation Inc. (BRKS.O: Quote, Profile, Research) with "underweight" stock ratings. Pang rated Lam Research Corp. (LRCX.O: Quote, Profile, Research) as "overweight" and Mattson Technology Inc. (MTSN.O: Quote, Profile, Research) and Asyst Technologies Inc. (ASYT.O: Quote, Profile, Research) deserve "neutral weight" stock ratings, he said. The Philadelphia Semiconductor Index, a composite of leading chipmaking and semiconductor equipment stocks, declined 2.67 percent to 392.75 points. By comparison, the Nasdaq Composite Index was off less than 1 percent at 1937.15 points.