<< CYMI is assembly right? >>
Nah, Cymer is front-end, along with etch and polishing and all, a very big area unfortunately. It would be nice to see the stepper btb broken out, but Nikon and Canon probably wouldn't participate in the survey if this was done. It would be too obvious who was having billings problems.
More to the point, however, from all indications, orders for DUV steppers aren't an issue right now. (The front-end btb decreased from 1.06 to 1.02, the second month of decrease, but the reasons for this could be extremely complex.) The industry btb just isn't the big problem for Cymer. The earnings limitations spring entirely from stepper production limits right this second.
PS May I second your vote for Teradyne. It's price at this point seems quite low. From what I can tell, it just isn't having any problems at all except maybe needing an extra bag for the night deposit. It worries me that there was huge insider selling by higher-ups in the last few months. But you'd have to give them credit, they sold in the mid-50's. That is the ONLY negative I can see. It isn't even particularly sensitive to total meltdown in Asia. |
