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

To: Stu Bishop who wrote (9223)	10/23/1997 4:24:00 AM
From: Teri Skogerboe	Respond to of 70976

Stu & All, japanbiztech.com Excerpt: October 23, 1997 (KUALA LUMPUR) -- The Malaysian government will invest in two separate wafer-fabrication plants with Atmel Corp. and VLSI Technology Inc. The plants will be the first advanced wafer-fabrication facilities in the country producing 8-inch (diameter), 0.25-micrometer wafers. Both plants will be built in the Kulim Hi-Tech Park, in the northern state of Kedah. They are scheduled to be operational by the third quarter of 1999.

To: Stu Bishop who wrote (9223)	10/23/1997 1:04:00 PM
From: Proud_Infidel	Respond to of 70976

Re: I would say 25 on avarage of FY97 and FY98 earnings which is $1.73. This puts "my" fair value at $43.25. Stu, I am not sure where you are getting your numbers. I believe the consensus for AMAT is around $2.10 with high end projections of $2.50. If a P/E of 25 is given to next years consensus(assuming this is STILL the consensus after the terrible week just passed), then a price of $52.50 becomes the range of "fair value." Personally, I have not heard any semi-equip rachet down their projections for the coming year. KLA beat EPS forecasts by 12% and LRCX was bullish on the coming year saying that DRAM pruchases remained strong even with the recent price pressures on them. This selloff is way overdone IMO. The only justification would be if AMAT or the others' earnings were to be adversely affected by the recent weakness with the HK currency. Regards, Brian