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Jess doesn't mean to be rude I'm sure, but short answers to your Q take a whole lot more time than do the questions. Basically, I think Cymer is too new. The community of investors can't look back at five years of steady performance, and as is the case with all breakthrough technologies, competetive ideas are imagined lurking everywhere ready to emerge just in time to upset this applecart, or that one, so the rumor mill rules the day. Fundamentals are for the investor. Rumors are for the traders. Cymer probably did get way ahead of itself...a 50 PE is pretty steep...an established semiequip company might get that, but Cymer??? Does it deserve a 15? Considering the turmoil in Asia, the level of semi-fab pushout uncertainty, the possibility that earnings forecasts might be missed...maybe the market's got it pegged about right. I think it does, but I'm still watching the company as I feel it will do well, when it's time. I know many people here expect an explosive price action almost any day...might happen, but it'll be right back down as profit takes step in. There's a whole bunch of folks who are down big bucks here, and they'll take profits in stages, which will slow the recovery, and make a volitile recovery at that....Chaz. |
