Helix Technology, a cold play on semiconductor equipment Message Board

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Technology Stocks : Helix Technology, a cold play on semiconductor equipment

HELX 36.78

+3.3%

Nov 21 4:00 PM EST

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To: mopgcw who wrote (1139)	4/14/2004 9:15:12 PM
From: Sidney Street	Read Replies (1) of 1227

Thanks for sending on GS's thinking, George. I've just finished looking at HELX's annual report, which takes the long view - increasing use of semi's, hard drives and LCD's across numerous platforms drives demand for equipment where they own a component niche. So who cares about little wiggles in INTC's capital expenditure timing. Concrete example: Apple's quarterly report today, 800,000 I-pods sold Q1. A small LCD screen, a hard drive and some chips in each one. A category that was a rounding error two years ago. HELX behind each hardware element. Sorry for preaching to the choir, here - I think you have as high a regard for the co. as I do. "Growth Cyclicals" is a tough category, admittedly. There seem to be two plausible approaches. Either you're smart enough to get out near the top and back in near the bottom (definitely not me) or you hang in, never selling, and add on to holdings when you're somewhere in the trough. (OK, maybe you sell a little bit when things feel frothy). The latter approach doesn't take a lot of brains but it does take a strong stomach. That's closer to my comfort zone. What's nice about these little semi-cap equipment companies like HELX or EGLS is that, if they are niche leaders, the cyclicality acts as a substantial entry barrier. Who else, in their right mind, would get on that roller coaster?

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