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To: HH who wrote (3720)	8/11/1998 4:18:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 86076

From AMAT report: <<New orders of $608 million for the third fiscal quarter of 1998 decreased significantly from $1.24 billion for the third fiscal quarter of 1997 and from $1.03 billion for the second fiscal quarter of 1998. Geographically, North America new orders for the third fiscal quarter of 1998 were 45 percent of the Company's total new orders, Europe 11 percent, Japan 18 percent, Korea 5 percent, Taiwan 20 percent and Southeast Asia and China 1 percent. Backlog at the end of the third fiscal quarter of 1998 decreased to $1 billion, from $1.41 billion at the end of the second fiscal quarter of 1998. "The semiconductor industry downturn continued to deepen during our third fiscal quarter because of poor economic conditions in Asia, industry overcapacity, and weaker than expected PC sales, compounded by a movement to lower priced PCs," said James C. Morgan, chairman and chief executive officer. "The sharp decline in new orders and net sales was broad-based, as customers in all regions reacted to further business difficulties by delaying equipment deliveries and investments in capacity and strategic programs. At this time, we are unable to predict how long this cycle will last, and are therefore assessing the appropriate level of infrastructure necessary to support a lower business volume, while assuring our industry leadership position." >> Now, what is the reason to buy AMAT at these prices? immediate turnaround? Booming PC market? Worldwide boom? Bottom of the cycle? All bad news is in? Greater fools? Why? Why? Why? -MMV

To: HH who wrote (3720)	8/11/1998 4:19:00 PM
From: yard_man	Read Replies (2) \| Respond to of 86076

Just think of all the money that is currently going into propping this market -- not money funnelled into stocks -- wages of folks telling us that we should buy now and hold for the long term. Air is packaged. Empty space is packaged. Now this brings me to a rather sore point. Can the more spectacular views be packaged? The national forest service is now charging everyone entry fees. I dropped by one of my favorite fishing holes on the way back from my in-laws. Nice little creek where I can catch trout. They wanted $2 to park there. What an outrage! My taxes have paid for the land two or three times over and now they want to start charging admission?!! Man oh man. Honestly, this is something we ought to write our congressmen (women) about.