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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: davesd who wrote (9097)	10/21/1997 1:00:00 PM
From: Martin A. Haas, Jr.	Read Replies (2) \| Respond to of 70976

Dave, thanks for the post regarding KLA. I think LRCX also announces today, and if good, maybe AMAT starts moving back up. Marty

To: davesd who wrote (9097)	10/21/1997 3:15:00 PM
From: David Aegis	Read Replies (2) \| Respond to of 70976

My KLAC Conf. Call Notes: Industry turnaround intact. ..logic and microprocessor demand is good ..the only new DRAM-related fab construction relates to pilot lines for 64 Mb ..December quarter (KLA FYE June '98) and first half of calendar '98 order patterns look solid--no pushouts and NO DRAM DRIVEN DOUBLE DIP DOWNTURN in evidence ..KLA's book to bill ratio is being impacted by an internal effort to reduce backlog to less than 5 months' revenues in addition to the seasonal factors noted in the press release ..the December quarter orders look to be so strong that the company will not be able to shrink its backlog much, if any ..KLA anticipates receiving its first orders for pilot 300 mm wafer lines in the December quarter, with continued order ramp-up throughout calendar 1998 IMHO, based on indications from KLA management, the investment thesis of an industry turnaround remains intact. Recent panic selling in the group related to the Sept. book to bill of 1.07 has incorrectly attributed that slowing in the growth rate as some sort of impending DRAM driven double dip decline rather than a normal seasonal factor. Let's see what Lam has to say tomorrow and Ultratech has to say on Thursday. --David