Etec Systems moving up Message Board

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Technology Stocks : Etec Systems moving up

ETEC 0.150

0.0%

Sep 8 5:00 PM EST

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To: Paul Dieterich who wrote (733)	1/14/1998 10:47:00 AM
From: Paul Dieterich	Read Replies (1) of 1279

Cap Equip Co's sketchy... unless involved in upgrade to .25: Lehman Bro's research lehman.com * Yesterday, press reports suggested that Toshiba will delay construction of two chip plants totaling $2.1 bill. in investment. The delay was blamed on the weak DRAM market. * Most Japanese chip companies have not announced formal budget plans for the fiscal 1999 (March) year, but we have not sensed a high degree of confidence in the spending outlook in our recent surveys of these companies. * A slowdown in Japanese chip spending, along with the one already underway in South Korea, would dampen growth prospects for U.S. equipment companies in 1998. We continue to think consensus EPS estimates in equipment are too high. * With weak chip capital spending in Japan and South Korea, and with a weak yen, price negotiations in Taiwan (where semiconductor equipment demand is still strong) may not favor U.S. semiconductor equipment manufacturers. * We continue to believe there will be a shift in the mix of equipment purchased towards 0.25 micron capable systems. This is likely to favor selected companies, including Applied Materials (AMAT, $28 1/16, Rated 1).

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