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

To: Gottfried who wrote (11206)	11/16/1997 2:17:00 AM
From: Gottfried	Read Replies (2) \| Respond to of 70976

ALL, Price-to-Book ratios... There was some talk about this earlier. Here's P/B for AMAT and KLIC...(Investors Alliance data) 1996 1995 1994 1993 1992 1991 1990 AMAT P/B Low 1.74 1.92 2.64 1.99 0.88 0.88 1.03 High 4.29 5.89 4.62 5.4 2.24 1.99 2.29 KLIC P/B Low 1.17 1.01 1.24 0.76 0.74 0.69 0.73 High 4.93 6.12 3.88 4.96 1.66 1.61 1.84 GM

To: Gottfried who wrote (11206)	11/16/1997 10:18:00 AM
From: ChinuSFO	Read Replies (1) \| Respond to of 70976

Gottfried, what I look at when making an investment is the company's commitment to remain at the leading edge of technology. Dollars being invested in the R&D, quality of R&D people they are hiring, production approach (yield increase etc. etc....). Classic example in Intel and the others in the pack (the AMDs etc. etc). Intel is committed to remain the leader. They are pouring tons of money into their R&D, they are adopting aggressive methods to cut down production cost and I wouldn't be worried about drop in prices for the Pentium or even the PII when it happens. So is the case with Applied Materials. They are the leaders in their field. They are a well managed company, just like Intel. So why worry about DRAM prices. And in my opinion, the Asian situation is also blown out of proportion. Are these excuses to bring the market down so that others can get in? After all "irrational exuberance" did not work. Now it is a "salutory effect". Fun to sit by the sidelines and watch. Chinmoy