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

To: 16yearcycle who wrote (23789)	9/5/1998 11:46:00 AM
From: 16yearcycle	Read Replies (2) \| Respond to of 70976

From Barron's and Fleckenstein: "Applied Materials' shares, by contrast, are nearly as high as they were in '95, at the equipment market's peak. Fleckenstein: Trading at about eight times annualized sales." This is why I despise this guy. Applied's current cap is about 9.2 billion. Fleck is suggesting that AMAT has sales of 1.15 billion per year!! He does this all the time, in nearly every article I have seen. Why exaggerate like this? It would have been correct to say that at previous lows it sells at about 1x sales and it is twice that now while nearly every other equip is at typical trough valuations or lower. On a positive note, if you are on the sidelines with amat, there are 2 articles in Barrons noting amat's still too high price. They are really coming out of the woodwork now.I remember buying in 96 when not one analyst had a buy on amat. There are still several, but with 99 looking gloomy, I would think a few of them will jump ship in the next few weeks. That should provide a very good buying opportunity, if not a bottom. There will be few safer places in a scary world than buying a great company at give away prices. Not there yet, though. gene