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

To: akidron who wrote (24315)	9/15/1998 4:44:00 PM
From: Terry D	Read Replies (2) \| Respond to of 70976

SAN FRANCISCO -- Anyone looking for good news out of the NationsBanc Montgomery Investment Conference about their chip-equipment stocks is departing more depressed than when they walked in. Not only did Applied Materials (AMAT:Nasdaq), provide no positive forecasts, but here comes Monty's analyst Brett Hodess saying he wouldn't be surprised by another downturn come December. No wonder fund managers are walking around saying that with a price-to-earnings valuation of 15 and a share price of 24, just two points above its year low, AMAT is still overvalued with room to move down. Imagine how executives at Novellus (NVLS:Nasdaq), must be feeling now. They get to present to this adoring crowd later today. We'll keep you posted.