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Technology Stocks : Stock Swap

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To: Patrick Slevin who wrote (9277)	10/30/1997 10:35:00 AM
From: Trader X	Read Replies (2) of 17305

A few words on CFMT from Motley Fool. "Even if you pick the right industry and you seem to own the right company, sometimes bad stuff will just happen. Wet-bench processing equipment maker CFM TECHNOLOGIES (Nasdaq:CFMT - news) slipped $15/16 to $18 1/16 today because one of its major customers postponed some orders. A fire at United International Circuits Corp. caused the company to delay two machines this quarter and three machines next quarter until it can get its house in order. Investors who bought CFM Technologies last month at $35 or higher were buying at 22 times next year's earnings. Buying this boldly assumes that everything will go off without a hitch and that in 14 months investors will still think the company will grow more than 20% per year. In retrospect, one can argue that it is easy to chide, but the fact remains that those prices left very little room for error."

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