Reaching Into The Silicon Abyss

To get a fix on the damage to technology issues during the deep slump, look at Applied Materials (AMAT), the world's No.1 maker of wafer-fabrication gear for the semiconductor industry. In 11 months, it lost 62% of its value--falling from 59 7/8 on Aug. 16, 1995, to 22 5/8 on July 23, 1996. Who would look at this loser? Some savvy tech watchers are--and they're happily buying.

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