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

To: Cary Salsberg who wrote (14372)	4/15/2005 10:25:13 AM
From: matt dillabough	Respond to of 25522

Caris downgrades KLAC, TER and AMAT Caris downgrades KLAC to Above Average from Buy, TER to Average from Buy, and AMAT to Average from Above Average due to lessened demand visibility and rising supply growth, which they believe will likely prompt chip makers to restrain wafer production from present levels entering and possibly through the typically seasonally strong "summer build" season. Firm says industry indications are that semiconductor makers are experiencing greater supply growth than demand growth. Should this sustain in the weeks ahead, they say history suggests these producers will cut back on wafer starts and further restrain already constricted capital investments from presently planned levels, pressuring fundamentals at equipment makers possibly throughout the remainder of 2005