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

To: Proud_Infidel who wrote (20103)	6/10/1998 8:44:00 PM
From: Proud_Infidel	Respond to of 70976

From Briefing FWIW: Semiconductor Equipment Brief: As goes the chip industry so goes the chip equipment group... Earnings concerns sent investors heading for the exits... Losers included Novellus, Applied Materials, Lam Research and Teradyne... Most of the sector's component issues are at, or nearing, major long-term support levels... Consequently, risk-reward ratio turning positive... It's always tough to buy when the rest of the market wants no part of the stocks, but from a long-term perspective these stocks are looking cheap... Might get a little cheaper near-term but we're neither interested in, nor capable of, picking the exact bottom... What we can do is identify a group that is long-term undervalued relative to historic norms, and the chip equipment industry qualifies.