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

To: C_Johnson who wrote (22235)	7/28/1998 10:36:00 PM
From: Henry Eichorszt	Respond to of 70976

FROM SMARTMONEY- Improved inventories of PCs and a better-than-expected earnings report from KLA-Tencor (KLAC) boosted shares of chip equipment stocks Tuesday. KLA's earnings beat analysts' expectations by 3 cents -- but fell 46% from a year ago, amid lower spending by chipmakers. In addition, as inventories of PCs drop, chipmakers will get more orders and need new equipment to make them, says analyst Larry Borgman at Josephthal & Co. At this point, chipmakers are still hesitant to buy equipment, but Borgman says that chip equipment earnings usually improve six months after chipmakers buy equipment. In fact, Applied Materials announced that it received an order for its Ultima system from Advanced Micro Devices (AMD) on Tuesday. ----------------------------------------------------------------------