Novellus Message Board - Msg: 8189976

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Math Junkie who wrote (2013)	3/7/1999 2:37:00 AM
From: FJB	Read Replies (1) of 3813

RE:why Novellus is bad* Yes, I understand the dilemma. Novellus is bad because its stock has gone up. There is a group of investors classified as the "ignorati" who have bid this stock up to outrageous levels for so early in a semiconductor upturn. There is another group, who we'll call the "intelligentsia", that bought puts on NVLS in November based on the premise that the biggest "boom" in semiconductor sales and semiconductor equipment purchases occurred in 1998. In the time since October, the slow of wit "ignorati" have refused to sell their stock for its fair market value of $15, while the "intelligentsia" have continued to purchase puts, because the stock is overvalued and the "boom" in semiconductors occurred last year. I may have omitted some salient points, but this seems to be the gist of the argument. Also, there is some confusion in the "intelligentsia" community as to what NVLS's cash flows have been. In the worst quarter of 1998, viewed by the "ignorati" as one of the worst ever in the history of the sector, NVLS was cash flow positive. *Please read this note in the sarcastic tone in which it was written. Bob

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