Teri,
RE: "And, are the other two divisions leading-edge and strong competitors?"
Yes and No! Yes they are, but not in the same league with AMAT, KLAC, LRCX, and NVLS. Of course, I don't believe any other semi-equip is in their league, either.
RE: "Are you saying you feel that at today's stock price, we, as investors, essentially get the Lithography group for free?"
During the last upturn, SVG Lithography did not contribute to earnings until Q4 '95 (after peak prices were hit). The stock hit a peak of $48 in the summer of '95.
The streets attitude toward SVGI retains much of the character of its attitude toward AMAT when AMAT was in the $20s. In both cases, future earnings visibility appears clouded and the street wants no part of it.
Cary |
