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Technology Stocks : Cymer (CYMI)

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To: flickerful who wrote (3754)	9/27/1997 4:09:00 PM
From: Maxwell	of 25960

Theory on CYMI's Downgrade: I think the reason CYMI got downgraded is because CYMI's management pissed off the broker community, especially Montgomery, when they pulled out of the financial conference. As you all know nobody messes with the brokerage houses since they have alot of influence on the stock price. If they demand inside information from a company such as new products, new customers, possible earnings shortfall, etc. THEY WILL GET IT! If they don't they will trash the stock price. Pulling out of the conference was an insult to the Montgomery's family. I am sure Montgomery called up their brother fraternity, Morgan Stanley, to trash CYMER stock as well. It is funny how these brokerage houses use the reasons for downgrade. Short of fused silica? Nikon problem? Whether this theory holds or not will determine by Q3 earnings. If Q3 sales exceed $50M say $60M with good EPS then the slow down in CYMER lasers are unsubstantiated. If the EPS is bad and sales is down then Montgomery and MS have good forcasting and have every rights to trash CYMI stocks. My feelings is that CYMI is shipping every laser they can make and the backlog is enough to keep them busy well into Q4. Maxwell

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