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Technology Stocks : Cymer (CYMI)
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To: nycnpbbkr who wrote (6165)10/24/1997 1:23:00 AM
From: AJM  Read Replies (3) of 25960
 
"...Significant orders received since the close
of the third quarter and on customer forecasts..." said Akins
This is my favorite line from the conference call.

CYMI has built capacity to produce 1000 lasers/year, yet will
run at only about 75% of that capacity in 1998. Economically,
that is not a smart move if they don't plan on using that capacity in the near future (MicroEconomics 101). (It's
like buying a large jar of mayonnaise because, per ounce, it's
cheaper than a jar half it's size. However before you can use
half of the mayonnaise in the large jar, it spoils and you
have to throw the rest of it away)

Eventhough Akins and Angus couldn't comment beyond
two quarters, you can imply that they plan on approaching 100%
of capacity by 1999. I'd say that the stepper manufacturers
have some large appetites!!

ajm
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