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

To: Jeffrey D who wrote (27529)	1/5/1999 12:53:00 PM
From: Jeffrey D	Respond to of 70976

O'Brien of Soundview says Lam will take market share from AMAT. Wishful thinking by this analyst? Jeff << Lam Research Rises on Optimism for Better Demand, Market Share Fremont, California, Jan. 5 (Bloomberg) -- Lam Research Corp. shares rose as much as 19 percent amid optimism that the maker of semiconductor equipment is poised to win more orders for its products and gain market share from Applied Materials Inc. Lam rose 3 1/16 to 22 1/16 in midday trading of 1.94 million. Earlier, the shares touched 22 41/64, their highest since June 24. The stock has more than doubled in the past three months. Orders for chip equipment are beginning to rebound after plunging to a five-year low in September. Lam may stand to benefit more than its chief rival, industry leader Applied Materials, from new spending by semiconductor companies because some of its products are better, said Mike O'Brien, an analyst at SoundView Technology Group Inc. ''Their ability to gain market share as we go into 1999 is greatly increased,'' said O'Brien, who today upgraded Lam to ''buy'' from ''hold'' and expects its shares to rise to $30 in the next 12 months. ''Lam's products are much better positioned than they were a year ago.'' Fremont, California-based Lam makes equipment that chipmakers use to etch wires on silicon chips from ultra-thin layers of aluminum or copper. O'Brien said the company is likely to receive orders for polysilicon etch machines from memory-chip makers, which cut spending over the past year due to overcapacity and plunging prices. ''Lam still is the leader in that area,'' he said. Applied shares rose 3 1/8 to 47 7/16. >>