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

To: Bryce Elkins who wrote (29094)	3/16/1999 3:27:00 PM
From: Henry Eichorszt	Read Replies (2) \| Respond to of 70976

Semiconductor stocks bulldoze higher By Tiare Rath, CBS MarketWatch Last Update: 2:06 PM ET Mar 16, 1999 Silicon Stocks Tech Report NEW YORK (CBS.MW) -- Chip stocks bucked the overall market Tuesday, bulldozing higher on strength from chip-equipment makers. The regularly volatile Philadelphia Semiconductor Index powered up 3.1 percent, significantly outperforming the overall Nasdaq, which advanced 0.8 percent. Leading chip stocks higher were chip-equipment maker KLA-Tencor (KLAC) and chip-wafer-fabrication company Novellus Systems (NVLS). Those stocks gained 2 3/8 to 56 and 4 1/4 to 58, respectively. BancBoston Robertson Stephens also reiterated its "strong buy" rating on Novellus. Semiconductor and semiconductor equipment analysts at BT Alex. Brown recommended the stocks in an industry research note. They also picked as favorites Texas Instruments (TXN), LSI Logic (LSI) and Applied Materials (AMAT). "We continue to believe that we are at the beginning of an extended up cycle in the semiconductor industry," the analysts wrote. Shares of Texas Instruments rose 3 13/16 to 103 1/4, while LSI Logic's stock gained 1 1/16 to 25 9/16. Applied Materials shares advanced 2 13/16 to 63 3/8. Chip manufacturers moving higher included Intel (INTC) and Micron Technology (MU), which advanced 1 9/16 to 119 7/16 and 2 to 51, respectively. Investors are also anticipating February's book-to-bill-ratio report for chip equipment. The data, which is due out after the market closes Thursday, measure the price of orders booked against the price of products shipped. The reports are published monthly by the Semiconductor Equipment and Materials International. They measure demand and pricing in the industry and almost always affect the price of chip stocks.