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Technology Stocks : Cymer (CYMI)

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To: orkrious who wrote (22342)	7/3/1999 6:14:00 PM
From: Greg Jung	Read Replies (3) of 25960

$1 and change was the earnings rate when they were hitting on all cyllinders, inventory was being built up, and no competitors were in production. Two years later they are still below break-even but nevertheless I think $1 will be doable at high capacity - however that may be enough to satisfy demand, which can dry up anytime again as it did in 1997 - forecasts of the SIA notwithstanding. So assigning a PE anywhere much beyond ten rests on the assumption that semi-equips will continue to be valued beyond their means to produce as they are now. Why insist on owning stock in this sector? I have a stock now which has 20% margin, lkittle debt, about 20% or better recent (5-year growth) and earns $1 or better per quarter, for $37/share. And all they have to do is pump out more nuts and bolts to continue. You are living in fantasyland with your $200 price projections. Read the same crap just after the IPO on this thread. Sorry to throw cold water on you, but many naive people come to raed these threads and some even take these things seriously. Greg

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