Amat's up movement the last two days, especially yesterday must clearly be viewed as insight from Wall St.analyst, who understand the dynamics taking place in the marketplace and are beginning to load up on AMAT. Todays report should be very psoitive and lead the way for a breakthrough into thre $20's. Next stop $25.00
If you have been involved in AMAT in the past you will notice that it tends to move up in price just prior to it's Quarterly Earnings report. Also, if you have been following the conference calls from other equipment makers (i.e. NVLS, KLAC, etc.) you will have heard that the outlook going forward is cautious with no upward guidance going forward in the near term. I also don't believe that AMAT would terminate over a thousand jobs less than two months ago if things were turning around in the near term.
Clearly the movement of the past several days was just keeping with the market as a whole.
Caution has to be the watchword now. Taiwan semi's recent observation that there appeared to be some very recent increase in demand was followed by a statement that they did not decide to increase plans for more equipment purchases.
For those interested in all views get a copy of this week's Barron's. Interesting thoughts on tech overall from Pip.