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

To: Proud_Infidel who wrote (21261)	7/9/1998 12:17:00 PM
From: Robert O	Read Replies (1) \| Respond to of 70976

Well, look at most other semis and you will see almost all at their 52 weeks lows or lower. AMAT was around 35 going into last earnings anncmt. Probably news of current qtr. solid earnings leaked out enough that investors bid up price to 37-38 then even after AMAT effectively preannounced for the next qtr. mrkt bids it up to 39.5. So really I look at the drop from 35-36 down to 29-30 as the "true" correction based on the new news of neg. expectations. This is only a 15% correction! I agree AMAT obviously stands out since its the leader, but it's been coddled to too great an extent IMO.