Semiequips are doing their cliff-dive thing now. Those less
allergic than Mike might want to start thinking about where they
want to buy. I have done pretty well buying cutting-edge companies
in fast-growing areas of the semiequip biz in the past, by waiting
'till everything in the sector is getting machine-gunned en masse.
I also got out of most of them waaaaay too early. Some ideas:
BRKS for automation, should be big in the 300mm transition. LRCX
a major customer, though. PRIA-- also automation; the "blue chip"
of the automation area. SFAM-- for CMP polishing. This is the
company I was thinking of when I asked about price support/lack of
it after an offering. They just pulled off an offering at 52 3/4;
I sold a third of my long term core at 57, and the stock proceeded
to tank that same day. (I have this difficulty exiting, like I
mentioned; basis around 20, so not too much angst, though.)
36 and change intraday Fri, under 40 at
the close. Forward P/E was well over 30 at the peak,
and dilution is an issue, but initiating positions in the 30's seems
very reasonable.
All these companies have big Asian fab exposure (SFAM just received
a large order from Samsung), so thinking reallll
cheap may be a good way to get some realllll bargains.
(Look at cash/share and book/share, and remember that high
earnings/share can
disappear fast in a real downturn.)
The sector looks to have momentum at this point!
Cymer might be interesting too (excimer lasers for deep UV,
CYMI).
Thoughts?
Howard
PS: Cary Salsberg is of course the master on this.... check the
Semiequips: Buy when BLOOD is in the streets thread. Methinks
posts may be picking up on that one. |
