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

To: Kevin Trilli who wrote (15162)	1/29/1998 5:59:00 PM
From: Herb Eggleston	Read Replies (1) \| Respond to of 70976

Kevin and other AMAT lovers: Maybe it will be encouraging to read this report from one of our stalwart analysts: We expect revenues to rise approximately 35% in FY 98 (Oct.), as chipmakers ramp investments in new capacity and purchase next-generation tools for leading-edge chip manufacturing. AMAT continues to outperform its industry peers, due largely to the strength of its products, which enable the production of semiconductors with linewidths (transistor size) of 0.25 micron or below. Longer term, AMAT is also well positioned to lead a major chip industry technology upgrade to 300 millimeter wafer fabrication. Margins should continue to rise on higher overall sales volume and will be aided by cost-saving measures. AMAT's operations held up well during the industry downturn that began in the second half of 1996, with FY 97 revenues coming in just slightly lower than those of FY 96. Given the strong momentum AMAT is currently experiencing through all of its businesses, we look for EPS to jump to $2.15 in FY 98. Valuation 24-NOV-97 Sevventy