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Technology Stocks : Novellus -- Ignore unavailable to you. Want to Upgrade?

To: JEFF CHAPMAN who wrote (1489)	6/5/1998 1:26:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 3813

Five Semiconductor Equipment Makers Downgraded By Advest Dow Jones Online News, Friday, June 05, 1998 at 12:57 NEW YORK -(Dow Jones)- Advest Inc. Friday downgraded five semiconductor equipment makers. The firm cut three companies to "buy" from "strong buy": Applied Science & Technology Inc. (ASTX), Cohu Inc. (COHU) and Photronics Inc. (PLAB). Two others it cut to "market perform" from "strong buy": Novellus Systems Inc. (NVLS) and Applied Materials Inc. (AMAT). Advest cited a sales forecast released this week by the Semiconductor Industry Association, an industry trade organization, that projected worldwide sales of semiconductors will decline 1.8% in 1998. "Over the longer run, demand for semiconductor fabrication equipment is directly related to demand for semiconductors," Advest said. Late last year, the Semiconductor Industry Association had projected a 17% industry sales growth rate for 1998. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.