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Technology Stocks : Stock Swap
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To: nigel bates who wrote (14394)6/12/1998 2:15:00 PM
From: Andrew Vance  Read Replies (2) of 17305
 
*AV*--Many of them have significant exposure but I do not know of any that have an outrageous amount of potential defaults. Most of the companies took appropriate actions months ago. Remember that a few months ago cancellations and pushouts occurred because letters of credit or financing guarantees were not adequate to satisfy some of the major equipment suppliers. The exposure will come with the lack of orders for the rest of the year.

The smaller companies like GSNX, SUBM, CFMT, AGAI, and the like will now be in a big world of hurt. No orders and maybe some bad debts. The larger guys like AMAT, NVLS, ASMLF might not be as exposed from the payment side of things.

I will try to make some calls today and next week but I doubt my contacts will admit to the extent of potential financial exposure from the Asian sector of their business.

Andrew
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