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Lam Research Corporation Message Board

  • stockl2005 stockl2005 Feb 13, 2006 12:30 PM Flag

    AMAT May See Upside On Earnings Breako

    Applied Materials May See Upside On Earnings Breakout
    David Ng, 02.13.06, 11:09 AM ET

    Applied Materials is getting ready to report fiscal first-quarter results on Wednesday, and much of the focus will be on the chip company's service and flat-panel bookings, according to Piper Jaffray.

    If Applied Materials (nasdaq: AMAT - news - people ) is willing to break out numbers related to these areas, "we believe the strong semiconductor bookings momentum should drive stocks higher," wrote Piper Jaffray analyst C. William Lu in a recent report.

    "Our bet is that management either breaks it out or provides enough guidance for investors to figure it out, and therefore we're bullish going into the call."

    The analyst said upside to first-quarter guidance is possible, but that Street expectations already account for this potential.

    Applied Materials' management has guided pro-forma earnings per share of 16 cents to 17 cents for the quarter, excluding options expensing. It forecasts revenue to grow 3% to 5% sequentially, and bookings to increase 7% to 10% sequentially.

    Lu believes order demand beyond April is "shaping up nicely" for Applied Materials, with customers such as Samsung and Taiwan Semiconductor Manufacturing (nyse: TSM - news - people ) all slated to book in the calendar second quarter of 2006.

    Piper Jaffray increased the target price on Applied Materials to $20 from $18, and reiterated a "marketperform" rating.

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