Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: JustInTime who wrote (20843)	12/30/1998 2:25:00 PM
From: Jenna	of 120523

Lehman Selects KLA-Tencor As Top Chip Equipment Stock For '99 NEW YORK -(Dow Jones)- Investment firm Lehman Brothers Inc. Wednesday announced it has selected KLA-Tencor Corp. as the top pick for 1999 in the semiconductor-equipment sector. The firm specializes in making yield-monitoring and control systems used in semiconductor plants. Lehman touted KLA-Tencor's prospects for strong sales as Taiwanese chip companies convert to 0.18-micron technology now used in the U.S. A micron is one-thousandth of a millimeter. Companies are racing to etch tinier circuit widths in chips. Lehman also said cost controls implemented during a recent industrywide slump have left KLA-Tencor with "favorable operating leverage." Lehman set a share-price target of $57 for 1999 and said it expects the stock to hit $97 between 2001 and 2002. The shares closed Tuesday at $41.313. In November, KLA-Tencor, a San Jose, Calif., company that makes measurement and inspection equipment that helps chip makers improve the quality of chip production, cut 5% of its work force, or 220 workers, citing industry troubles. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.

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