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Technology Stocks : Lam Research Stock Swap?
NVLS 2.400+2.1%Jul 24 5:00 PM EST

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To: Paul Moerman who wrote (7)8/29/1996 7:10:00 AM
From: John Ellis   of 13
 
Paul, Lam's managment appears to have made a tough decision to cut
the workforce. That's too bad for the employees. But maybe that's the signature of a good management team. Time will tell. I do not think a rocky quarter or two or three for the industry and LRCX
make this one an outright sale if someone has a longer term horizon.
Your comment about being able to sleep is right. Each investor has
a comfort level and I do not think any two investment styles are exactly alike. Another thought - it was not too long ago that Lam announced they would increase the workforce. If this is a flip-flop
maybe it's bad management. I hope not.

John Ellis
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