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To: shane forbes who wrote (7880)	11/21/1997 1:11:00 AM
From: shane forbes	Read Replies (3) \| Respond to of 25814

--off topic-- Well I tried to listen to the entire c.call but after about 20 minutes or so into the AMAT call I got cut off. Happened twice. Everything I heard was bullish. E! even though SEA was 30%, Taiwan makes up the bulk of this - 25% Taiwan, 5% remaining. (Korea is separately counted.) Logic, foundry business rock solid. Did not get to hear the most important parts - questions and predictions. Motley Fool putting a slight negative bent but they've got burned in the past for jumping off the AMAT ship and my sense is they'll never say anything too positive about the company. They imply $42 max (21 times projected earnings). They actually did their report using the wrong earnings number - 0.47c instead of the ongoing 0.49c which is a better indicator of operations. 0.02c charge for litigation. Briefing sees to be hesitatingly bullish. The AMAT thread is full of one-liners and projections of 60 (what else is new) and as David pointed out some pointing out "sell on the news". Options expiration centered around $35 but heavy buying of calls at upper levels yesterday. CNBC effect may also resurface tomorrow as Morgan goes on TV. Personally I'm more interested in some of my second tier stocks like COHU etc. The market though perhaps slowing down a bit is still very strong. I think the back-end equip people should be in the money for quite a while here. Very strong demand. Anyway if as you guys imply AMAT falls it should be back up very soon once the profit taking subsides. I'm thinking of longer term and industry trends at this stage.