Applied Materials tagged with another downgrade

Summary:Applied Materials shares dropped 88 cents to $38.69 Thursday after the chip-equipment maker was downgraded to a "maintain position" rating from an "accumulate" rating by A.

Applied Materials shares dropped 88 cents to $38.69 Thursday after the chip-equipment maker was downgraded to a "maintain position" rating from an "accumulate" rating by A.G. Edwards.

Earlier this month, Merrill Lynch cut the stock from a near-term "accumulate" recommendation to a near-term "neutral" rating mainly due to slowing PC and semiconductor demand. Full story. -- Larry Barrett, ZDNet Inter@ctive Investor

Topics: PCs, Hardware

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