Applied Materials (AMAT -2.5%) slides after receiving a downgrade to Underweight from JPMorgan's...
Monday, January 7, 9:57 AM ETApplied 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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