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

To: Gottfried who wrote (26624)	11/23/1998 3:21:00 PM
From: Robert O	Read Replies (3) \| Respond to of 70976

NEWS: Anyone care to comment on the figuring here...I love it, especially part in bold<g> (everything's relative I reckon'): Monday November 23, 2:46 pm Eastern Time Company Press Release SOURCE: BancBoston Robertson Stephens BancBoston Robertson Stephens Reiterates Buy Rating on Applied Materials SAN FRANCISCO, Nov. 23 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens senior semiconductor equipment analyst Sue Billat today reiterated a Buy rating on Applied Materials (Nasdaq: AMAT - news). Applied Materials is the world's leading supplier of semiconductor wafer fab equipment with a strong position in the PVD, CVD, RTP, etch and ion implant markets and an emerging position in the CMP as well as the metrology and inspection markets. The company is located in Santa Clara, California. Billat expects the industry to receive a further boost from spending on pilot 300mm wafer lines in early 2000, with full production starting in 2001. As a result, Billat believes that, for the first time since 1995, the industry will experience significant spending on capacity expansions in addition to technology upgrades during 2000 and 2001. ''Accordingly, we are introducing a F2000 EPS estimate for Applied Materials of $2.00 on $5.0 billion in revenues,'' said Billat. ''We have a 12-18 month price target of $68-$72 based on a price/earnings multiple of 32x to 36x our F2000 EPS estimate, a valuation which we believe is conservative relative to its prior peak, a multiple of 38x.''