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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (3616)	7/10/1998 7:28:00 PM
From: Carl R.	Read Replies (2) \| Respond to of 4697

Strange that they are at 27. Actually when VECO prewarned I reduced revenue estimates for them by 2% for the rest of the year, and with this AMAT pre-warn I actually raised my estimates slightly as I had them at $850m this quarter, and they will apparently do slightly better than that. I find it hard to believe that this wasn't priced in already. Thus, just like VECO which tanked 1 1/2 points at the open and recovered in minutes to finish up for the day, I suspect that come Monday AMAT will fall but recover fairly quickly. Even KLAC recovered in two trading days and their pre-warn was lower than I expected. I don't think it will be any big deal when all is said and done. Carl

To: Judy who wrote (3616)	7/10/1998 9:36:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 4697

Judy, I agree with Carl that by Wednesday the warning would be a "non event", (most probably by Monday night). I am more worried about September and October, when the reality of the earnings hit (late August), and in October when additional warnings will hit. That is why my scenario calls for a good rally here, petering within 4 weeks or so and then a very tough Autumn. That will set the stage for a unique bottom fishing opportunity in the surviving semis. Make no mistake, IMHO, some of those that have not put money aside for a rainy day may be lost. Zeev