Veeco Instruments-Who? Message Board

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Technology Stocks : Veeco Instruments-Who?

VECO 26.39

-4.1%

3:59 PM EST

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To: Carl R. who wrote (71)	9/17/1996 3:25:00 PM
From: Donald B. Fuller	of 3069

Carl, I don't know what is on the mind of the INFRASTRUCTURE boys re: VECO other than the general tech equipment slump issue. I do not know what their next quarter report will show but in the past they have been willing to say whether or not they are "comfortable" with estimates if you call their investor relations (Margo, I think). The one cloud I saw in their last quarterly report was that their b/b was only 1.0, c/w ~1.2 the previous quarter. Still, I like their mix of leading edge HDD, flat panel display and semi equipment exposure. Their etch equipment becomes prominent as semi geometries go to less than 0.25 micron and I believe they are exploring with Lawrence Livermore labs all the way down to 0.1 micron etching. I think that means they will still be out front for some time to come. Also, the HDD industry, which is a big user of their equipment, looks strong. Finally, trading at a p/e of ~9-10 and a price/book of ~ 1.33, I think their upside is massively higher than their downside, given a tincture of patience. All of this is a nonprofessional opinion based on my own research. Happy hunting. Don

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