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

To: Duker who wrote (29342)	4/1/1999 3:55:00 PM
From: Jeffrey D	Read Replies (3) \| Respond to of 70976

Gottfried/Tony, I was also at the meeting. Too bad we didn't bump in to each other. First and most importantly, a report on the food and drink. Veggies and dip, fruit platters, cookies, ice cream and brownies. Starbucks Gourmet coffee and soft drinks. The analysts were lined up like hogs at a food trough, eating all the freebie goodies in sight! If you were lucky enough to get by them I highly recommend the brownies. Saw Min Pang and Michael Murphy. Murphy was piling his plate high with cookies and Min Pang seemed to be camped at the ice cream stand. Don't know if either made it to the actual session. * In general I agree with Tony and Gottfried about the optimism in the room. I do, however, feel they were more optimistic about the long term and less short term. Terms like "cautiously optimistic" about 1999 and "steady recovery" in 1999 made me think they were a little disappointed that the recovery so far was not stronger. Long term, I got the impression they believed the sky is the limit on their future success. Excellent news for us long term AMAT folks. David Wang presentation Tony and Gottfried please help me here. When David showed the industry boom and bust cycle chart he pointed out how that cycle had changed over the last three years. My impression was the change was caused by DRAM, and DRAM'S violent cycles, becoming less of a driving force in the industry. This, caused by increase of chip needs in cell phones. et al and consumer goods, ie autos. Your thoughts? Dan Maydan 1999 - "cautiously optimistic" continuing to improve" 1998 - despite harsh climate AMAT mainained #1 position and gained market share. Example AMAT Japan now does more business in Japan than Tokyo Electron. 1998 Highlights - "maintained market share" {I guess he means AMAT maintained while competitors lost market share causing a gain for AMAT?} "restructured so that 600M is now break even point" "completed reoganization of the company to take advantage of expected upturn in business" Key Challenges - 300M may start at end of 2000 which means AMAT has to get ready for it now. Transition to copper and different etching requirments needed for it. See that CMP becomes "a way of life". Single wafer process replaces furnace. Provide integrated process solutions 2003- 60B revenue 10B Jim Morgan* "worst behind us" "prepared to take advantage of upturn due to management's plan that began 6 years ago." *Questions and answers* Acquisitions? No acquisition of "niche" equipment maker. Might consider purchase of company based on intellectual property needs. Is AMAT ready for copper? "AMAT's copper product has come along nicely" and they are ready. The industry is not quite ready. <<< If you have never gone to an annual meeting I would highly recommend it. My first, but I'll be back next year. Gotta have some more of those brownies! Jeff