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Technology Stocks : Ultratech Stepper
UTEK 30.230.0%Jun 5 5:00 PM EST
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To: stock bull who wrote (1845)12/13/1997 12:31:00 PM
From: Boca_PETE  Read Replies (2) of 3696
 
Stock Bull:
The "Plugged In" column by Eric Savitz in this week's Barrons (Page72-73) has an outstanding discussion about how the Asia Phobia has knocked key tech sectors (including the makers of semiconductor equipment) to bargain-basement levels.

Savitz checked with Moshe Handelsman (President of Advanced Forecasting) whose firm has an exccellent record in forecasting major turns in chip demand. Savitz reports that Handelsman's 1998 outlook still forecasts healthy sales growth for both chips and equipment. He sees the Korea situation as much like that experienced by Japan in 1991-1992 when they couldn't afford to spend on capital equipment and lost considerable market share. According to Handelsman, Korea only accounted for less than 9% of total semiconductor equipment sales during the 9 months 1997. If Korea's spending dropped by one-half and if unit demand remained strong, someone else could increase capacity to make up the difference. Moreover, Savitz reports that Handelsman currently sees no signs of a semiconductor recession ahead. Depending on how pricing falls out, he's forecasting 15%-25% a year revenue growth in the chip industry. He's forecasting equipment industry sales will grow 15% to 20%. Savitz observes that if Handelsman is correct, stocks (of semiconductor equipment makers) are raging bargains.

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