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

To: John E. Rylander who wrote (9513)	10/24/1997 6:12:00 PM
From: Tech Buyer	Read Replies (2) \| Respond to of 70976

I'll take this as good news, but Dave D may find some faults: Cymer results surge; its laser capacity expected to meet DUV stepper demand techweb.cmp.com Excerpt: "Based on our Sept. 30, 1997 backlog and significant orders received since the close of the third quarter, and on customer forecasts, we currently expect continued sequential revenue growth for at least the next two quarters," said Robert Akins, president and chief executive of Cymer

To: John E. Rylander who wrote (9513)	10/24/1997 7:45:00 PM
From: Brendan W	Read Replies (3) \| Respond to of 70976

If you want to look with a 1+ year horizon then why not also look back a year when AMAT was $13. People want to take solace in anticipating $2.50 next year earnings when the "big boys" are going to be asking Jim Morgan in the conference call what his Asian customers' new capex plans are (remember they're paying in yen, won, ringgit, renmimbi, and various other fruits and vegetables). A bad answer and we'll have another 20 percent down move. If you have the 5 year horizon, yes, paying $6 billion for AMAT is a good price.