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Already dinged by Novellus (NVLS -11.4%), Applied Materials (AMAT -2.9%)  is providing more...

Already dinged by Novellus (NVLS -11.4%), Applied Materials (AMAT -2.9%)  is providing more bad news for chip equipment firms: the company is cutting its 2011 chip equipment spending outlook, citing weak spending from DRAM makers and foundries. The cut makes plenty of sense in the wake of Micron (MU) and TSMC's (TSM) recent results.
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