Applied Materials – “Observations from an Engineering Intern who spent two summers working for AMAT.”

Pros

Large company, good place to intern as the company's reputation will carry weight within the industry.

Cons

Long term prospects for the industry are questionable. You could end up in a group that may not be there in 5 years or offers no room for advancement. You won't be converted to a full time employee during a downturn. Also, Applied has a tendency to lay off employees to meet Wall Street's expectations even in quarters/ years where they have a net profit.

Advice to Senior Management

The semiconductor industry regularly has downturns every few years. Accumulate additional cash reserves in good years to offset the bad years so you don't have to fire and then hire in staff for each cycle. The level of employee commitment is very low since everyone is really a contract/ temporary employee whether they realize it or not.