Varchild Downgrades Citigroup's Downgrade of Applied Materials
I'm personally an investor in Applied Materials Stock (AMAT).
Simple.... August: 2*0*1*0 AMAT: $34 a share.
That's a +50% increase from where it's trading today.
So why is Citigroup downgrading Applied Materials from a Buy to a Hold?
August 2*0*1*0 AMAT: $34 a share. (Hasn't happened yet!)
In fact.. That date is more than 2 years away. Wow!
So.... What is an investor to do about CITIGROUP taking an extremely short period of time (MARCH 2008 to JULY 2008 = 5 months) to declare Applied Material's Solar Energy overvalued?
Simple.... You downgrade and disregard it!
It is interesting that CITIGROUP chose to bash Applied Material's Solar Sector (which is less than 20% of Applied Material's total revenue) to produce this grandiouse downgrade.
But even more interesting.... Is CITIGROUP could have chosen to downgrade this last month when Applied Materials held a conference call on their Solar Strategy and Solar Contracts and Expectations. They sat and did nothing until now....
Why now???? In just 2 trading days from their downgrade Applied Materials is going to have a conference call on their semiconductor business. Couldn't CITIGROUP have waited to BASH and TRASH Applied Materials on July 15th instead???? At least they'd have something REAL to talk about. You know.. Something *NEW* to say that shareholders would actually care to pay attention to.
Frankly... It's laughable... But.... I don't care.. It's not 2010... It's not even AUGUST.
Wake me up with CITIGROUP upgrades Applied Materials shortly after Applied Materials has built their multi-million dollar Solar Factories along with their 70 Million Dollar Semiconductor Technology Facility in Singapore... because... with all of that expansion happening around 2010... One would think CITIGROUP would actually have *FACTS* that they could look at to form a *REAL* opinion.
Oh and last time I checked... CITIGROUP's Stock isn't looking so hot.
As an investor of AMAT: I just needed to get this off my chest :-)