Cymer (CYMI) Message Board

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Technology Stocks : Cymer (CYMI)

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To: Jacob Snyder who wrote (18814)	7/28/1998 5:59:00 PM
From: Cymeed	Read Replies (1) of 25960

<< Beyond 1999, the indefinite future is wondrously bright. And today ain't too bad. But the next 18 months look ugly. The fact that they are able to make a profit (given industry conditions), and that sales did not decline this quarter, will probably be enough to keep the stock (slightly) above 15. >> Don't worry. My gut feeling says Cymer is going to defend the $14~$15 level with that authorized $50 million buy back program, yet to spend $45+ million. I think they waited for a bargain price to most effectively use that cash to defend the share price. The reason they did not spend that much during the last 2 quarters, by my guess, was probably due to high share price (> $20 most of the time) and expecting a mildly long period of disappointing quarters. They should know that buying its own shares at $15 per share should return better than investing in municipal bonds, which earns only ~5% annual return, yet their own long term debt pays 3.5% for now and higher late.

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