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To: Andrew Vance who wrote (10155)	12/5/1997 4:14:00 PM
From: Patrick Slevin	Respond to of 17305

Well you know me, the perrenial pessimist. I would ask you to think about legging into your AMAT position. As long as you are into the scenery and it does not matter, why not buy at preselected points on pullbacks instead of shaking up the market balance by acquiring 1/2 the float all at once.

To: Andrew Vance who wrote (10155)	12/5/1997 7:15:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 17305

AV, you gotta kid who is about my oldest son's age....how do you deal with this? The little know-it-all comes home proud that he got a translatable 1200 in his PSATs. You wanna just wring his neck and he don't get it...most of the other morons in this dumb private school did worse. How do you convince a kid who wants to go to MIT that 1200 don't cut it? Honestly, I had 3 friends that had 1580s and one re-took the test and got a 1600. I thought we were underachievers as kids....imagine if I put him in a jersey public school. On second thought, at least he would know how to break down an assault pistol. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Sorry for the divergence from the thread's main purpose. I guess I needed someone to talk to.

To: Andrew Vance who wrote (10155)	12/6/1997 8:25:00 PM
From: Kumar Nathan	Respond to of 17305

Andrew: I was reffered to your post from AMAT thread. I talked to few TSMC Managers some two weeks ago asking them the same questions. They are all upbeat. They dont see any slowness in sight. I am interested with the result of your survey Regards Kumar

To: Andrew Vance who wrote (10155)	12/6/1997 8:36:00 PM
From: Robert Einstein	Read Replies (1) \| Respond to of 17305

Mr Vance. You seem knowledgeable . What you think of these comments by Mr KURLAK of Mer Lynch. Specially about the 50% reduction in capital equipment spending It appears the low-end computer is replacing the high-end & Not adding to demand for ASPs (Advance Signal Processors), such as the Pentium 11. It seems to us that bandwidth limitation is having the major impact on customer preferences for low-end PC's. The lack of bandwidth is a fundamental road block for highend microprocessor% because the intemet is today's "killer ap." Surfing the Web does N(Yl' require more power in microprocessitig, it requires more bandwidth in the line that feeds the data to the computer. Bandwidth is the problem, NOT power in the PC. At the same time other semi end markets are slowing. Recently, VLSI & Altera's customer demand has -.lowed. Order rates have softened for chips in the wireless market. Tcleroms have been pulling back on the reins as well. (ustomers of Altera are high-crid corporations (not consumers) & those companies are pulling back on spending (End demand is slowing & looks like it will worsen). There is no worldwide boom in any one particular industry group. The strong are surviving & the weak are NOT in most end-market demand groups (i.e.: Telecoms, Wireless, PC's, Data networking ... ). Were expecting Intels'Q4 revenues to decline 2% yr-over-yr on a 20% increase in unit growth. We think this is the beginning of the real end-cycle for the semi industry. Supply is still in excess of demand & end markets are slowing in most groups (Workstations, Servers. PC's). Q4 assumption for semi group: Expecting a 90/9 contraction in earnings Q-Over-Q. We expect the Street will have to cut estimates as we have done on several companies. We expect 40% to 50% cuts in capital spending & layoffs throughout 1998. It's unlikely the semi stocks have seen their lows. We might have another 25% downward risk in the group as a whole going forward. We're NOT looking to buy for a bounce on any weakness. We don't expect much follow-through on any possible near term strength. We recommend reducing positions on semi stocks on any rallies. This is from conference call of 12/2/97. Thankyou for your time, patience ,and knowledge, Sir. Robert

To: Andrew Vance who wrote (10155)	12/6/1997 10:14:00 PM
From: a. shaikh	Respond to of 17305

ANDREW VANCE,YOU USED TO BE VERY ACTIVE ON THE UTEK THREAD BUT LATELY YOU HAVE BEEN ABSENT FROM THE THREAD.DO YOU STILL THINK UTEK HAS A LOT OF PROMISE IN TERMS OF THE P-GILD PRODUCT? WHY IS THE STOCK NOT DISCOUNTING FOR THE POTENTAL FUTURE REVENUES FROM THIS PRODUCT? I WOULD REALLY APPRECIATE YOUR RESPONSE.