to one MM, INCA, finally allowing the stock to go higher. They've been driving the price down for the past week. I don't know why, but anyone with Level II who has watched AMAT for that time has seen them continually refreshing the low Ask all day except for brief periods where they allow it to run a little higher.
And one more thing: I had dinner with a good friend of mine Saturday night who is the VP of Sales for a major litho manufacturer. They are not only sold out and can't ramp fast enough they have been polling every industry analyst for signs of a potential slowdown and can't get anyone to predict one before 2003.
So just ignore the short term crap. What the bashers fail to realize is that not only is AMAT the #1 in many product areas they also have a world class demonstration wafer fab (which is unique among equipment manufacturers) that is going to continue to allow them to gain market share at the expense of the others during this up cycle. Add to that the 50% gross margins they reported this quarter and you have sure signs of continued incredible growth and earnings.
My analysis and recent review with some of the key people in semi industry has also convinced me the brighter days are ahead of us. My evaluation is there will be no cyclical nature anymore for semiconductor industry as it used to be due mainly because of increased applications as Morgan and other CEOs have repeatedly said. I am long as I have said before and have no plans to sell out.
Whoever is manipulating the stock it has given tremendous opportunity for investors like us to increase our holdings in AMAT and like companies.
Last week when idiots dumped the semi related stocks I picked up LSI at 43, added more of AMAT at 77 to 81. I am hoping to an earlier financial goal with the help of these idiots. Thanks for sharing the semi info.