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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 155.15+2.1%Nov 26 3:59 PM EST
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To: TI2, TechInvestorToo who wrote (4870)2/16/1998 9:03:00 PM
From: Jurgis Bekepuris  Read Replies (2) of 10921
 
TI2,

>Talk to me more about SMTL please.

SMTL is a rather small company that provides a
bunch of wafer processing tools, most of them considered
pretty low-tech. However they have a chance to hit
high in the future. They have a copper electroplating
tool that might be used when companies switch to copper
interconnects. That was the reason of run-up to $25 last year.

The positives are:

1. Stable mainstream business with positive earnings and
high ROE.
2. Copper promise of high growth.
3. Low PSR.

Negatives are:

1. Small company, not regarded as a leader in semi-equip
circles. That is the reason why it's lagging the rebound.
2. Non a Silicon Valley company.
3. Potential competition to copper process from huge
front-end guys (AMAT, NVLS).
4. Takeover attempts would have to get the CEO approval
because he owns ~50% of the company.

I liked the potential so I bought some. :-) I may add
more if other semi-equips reach my sell ranges
and I decide to use the cash.

Currently, I'd buy only KLIC and SMTL from the
semi-equip area. Some other companies are buys if you
really believe that the SEA downdraft is over. I don't. ;-)

Jurgis
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