Wednesday, November 17, 2004

Applied Materials Reports.... Bookings Headed South

The much anticipated Applied Materials quarterly earnings report was released after the close of today's trading session. The earnings conference call is underway and I plan to have an update of this in the Model Portfolio comments to be delivered this evening. First impressions: Bookings for the next quarter are expected to be off 35% - that's quite a bit more than anticipated. Most of the reports I've read were expecting a 15% to 20% fall in bookings. Revenues are estimated to be down 20% to 23%. That's also larger than expected. More comments to be posted shortly......

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