Suma, I'll respond to your post. I think the reason you don't see this stock make a run to the upside with the rest of the semi capital equipment pack is that 1) it is hard to understand all the intricacies of DUV lasers, pulse rates, chamber life, etc. within the context of the competitive landscape. Add to that an understanding of where semiconductor manufacturing is going on the road to next generation lithography techniques including whether or not some other technology will supplant DUV optical. Or even whether there will be masks available that will work at smaller wavelengths; and, 2) CYMI is not a household name among institutional money managers compared to AMAT, NVLS,KLAC and ASML.
All together, what you have is a company that is hard for Wall Street types to get their arms around. Even if there is little or no merit to all of the questions that come up from time to time regarding CYMI's future or competition gaining on them, it all takes a lot of time and brain damage to get to the bottom of things here. So what I'm saying is, is that as long as it is more difficult for analyst and fund managers to understand Cymer's business, future place in the semi world, and the acceptable risks of competition, than it is for them to understand a big cap company like AMAT, we will probably lag the pack to some degree.
Sorry for the run on sentences. |
