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

To: Steve Byers who wrote (10861)	11/12/1997 11:46:00 PM
From: ILCUL8R	Read Replies (4) \| Respond to of 70976

Steve, Thanks for posting the Gunnar Millar report from Paine Webber. This report squares with my readings of several threads and understanding from news articles. We seem to be in a different type of market now than in 95 or 96. Statements like, "We'll be up 4 points tomorrow," or "We'll be up to 40 by 11/20" are cheery but doubtful. The stock could easily descend to the lower 20's and stay there for months. The world-wide financial situation may have more effect than many understand. For example, three memory chip foundries in Taiwan have burned in the last few months. Makes me think about failing restaurants burning because their owner realized the insurance payment would be worth more than his business. A fab in Texas is postponed and capital in Korea and Japan is drying up, and . . . . I fear that a lot of the press and general investor sentiment are about 3 months behind our emerging reality. Also, the strong orders listed by AMAT may be good for now, but some of them may be pushed back, and then what, will there be others in the number to maintain this stock's expected growth rate? These are the times that try mens' souls especially if one is in a stock many consider to be overvalued. Thanks for the excellent post............