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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Tom Murphy who wrote (8548)	10/26/1998 1:28:00 AM
From: Jeffrey D	Read Replies (2) \| Respond to of 42834

Tom Murphy:<<I agree, KLAC is a great company. But I think there is more pain for this sector over the short term. Applied warned on Friday. I think Companies like Applied and KLA will lead the way back. But I don't expect any real recovery until mid-99. Just my opinion. >> Tom, this is the second post you mentioned that AMAT warned on Friday and this would lead the semi equip sector back down. Fact is, AMAT advised of completion of their restructuring which would lead to a 4th quarter loss. This news was released DURING the trading session on Friday. So, what actually was the market's reaction to this news? Well, AMAT ended up 1 1/16 for the day on extremely heavy trading of over 15M shares. Perhaps AMAT will go down but it certainly will not be due to the news they released last Friday. Jeff <<Oct 23, 1998 (Tech Web - CMP via COMTEX) -- The technology sector lost ground on the last day of the trading week on renewed concern about profits, despite several better-than-expected earnings reports. The technology-heavy Nasdaq Composite Index flopped 8.78 to 1693.86, and the Dow Jones Industrial Average retreated 80.85 to 8452.29. The world's largest maker of equipment for chip manufacturing and the third most active Nasdaq stock, Applied Materials {AMAT}, went up 1 1/16 to 33 15/16 after announcing it would take a $285 million charge for restructuring moves, including 2,000 job cuts.>>