Veeco Instruments-Who? Message Board

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Technology Stocks : Veeco Instruments-Who?

VECO 29.12

+0.3%

Dec 2 3:59 PM EST

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To: A. Edwards who wrote (2347)	7/31/1999 11:26:00 PM
From: Carl R.	Read Replies (1) of 3069

Except for the arbitrary price targets that was a nice, well written reports. Why do analysts even bother saying things like "We are lowering our price target to $41, or 2.5x our 2000 sales per share estimate of $16.5, from $70, or 4x our previous calendar 2000 sales per share estimate of $17.4."? Why not just say "We are lowering our 12 month price target from 70 to 41" and leave it at that instead of using arbitrary logic to justify the target? All things considered, the company is doing quite well in a difficult time. I am puzzled by one thing, though. This report says that semi-related sales declined to 10% of their business. It used to be north of 30%, and in the past they have said that as semi moves to .15µ and below they expect to sell more equipment to the semi sector. Well, we are getting closer to .15µ, yet they are selling less, and sales don't seem to be rebounding with the semi recovery. A nice boost in semi business would help right about now and make up for the slight weakness in the disk sector. Does anyone know if VECO has curtailed its R&D in the semi sector, or otherwise reduced it's focus on semis? I have been operating under the assumption that their semi business would improve with the sector. Carl

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