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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 184.86+8.1%3:56 PM EST
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To: Mason Barge who wrote (4660)2/1/1998 12:04:00 PM
From: Clarksterh  Read Replies (1) of 10921
 
MB - Re: Korea is continuing to order semi equ., but terms of payment are changing.

It might be true to some extent, but it is certainly not true of all companies. On the two companies I am currently following that have reported for this quarter, one, Lam, is taking an extremely conservative view on the whole SEA thing. They had a huge number of Korean order cancellations (about 20-25% of their bookings last quarter), and they have purged their backlog. I tend to believe that they would be extremely unlikely to do anything this risky, especially given the write-down that many companies had to take last year over the SEA company that never got off the ground. Mattson, on the other hand, is not being quite as conservative, but they aren't betting double or nothing either. They actually talked about a shipment (count 'em - one) to Korea on which they are not yet booking revenue because of the payment terms.

I don't mean to imply that Atkins is lying, only that he might be confusing what the Koreans want to do with what the companies are allowing them to do. After all, this is EXACTLY how SEA got into their current mess, so it shouldn't be suprising that the Koreans want to play this way.

Clark
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