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

To: Proud_Infidel who wrote (12048)	11/16/2004 8:55:36 AM
From: matt dillabough	Read Replies (1) \| Respond to of 25522

AMAT Applied Materials: TWP expects weak Jan Q outlook consistent with industry trends; Reiterates Peer Perform (16.78 ) Thomas Weisel Partners expects a weak Jan Q outlook for AMAT consistent with industry trends. The firm expects the company to meet its Oct Q rev and EPS estimates of $2.33 bln ( 4% q/q) and $0.27. The firm notes recent weakness anticipates negative outlook and possible relief rally as negative news clears. In recent weeks AMAT shares have essentially been sidestepped by a modest recovery in semi and semi equip valuations, reflecting what in the firm's view is the Street's overdue acceptance that (1) the industry has entered a downturn, rather than a pause, and (2) despite its continuing growth in services, AMAT is by virtue of its size unable to shelter itself from the full brunt of the downturn in equipment orders. Consistent with the firm's view that AMAT will not disappoint by issuing order growth guidance below that of its peers, the firm believes that investors will react positively to an AMAT confirmation that the current deterioration in equipment orders is slowing, rather than accelerating. The firm notes FY05 numbers still at risk and reiterates its Peer Perform rating.