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Applied Materials (AMAT -2.5%) slides after receiving a downgrade to Underweight from JPMorgan's...

  • Monday, January 7, 9:57 AM ET
    Applied Materials (AMAT -2.5%) slides after receiving a downgrade to Underweight from JPMorgan's Chris Blansett: he considers AMAT's recent rally a selling opportunity, and predicts upcoming earnings and capex guidance for major chipmakers will be a negative for the chip equipment space. Blansett, who's also cutting estimates for KLA-Tencor (KLAC -1.7%), Lam Research (LRCX -1.3%), and Nanometrics (NANO -1.5%), sees chip equipment spending falling 10%-15% in 2013; Gartner has forecast a 9.7% drop, following a 17.4% decline in 2012.
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  •  
    One must buy chip equipment stocks (AMAT, KLAC, LRCX) at times like this when the analysts are fretful. Sell when they are optimistic. This simple strategy has worked well for me over many years.

    Disclosure: I am long AMAT.
    7 Jan, 11:13 AM Reply Like
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