Veeco Instruments-Who? Message Board

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Technology Stocks : Veeco Instruments-Who?

VECO 33.75

-0.2%

2:00 PM EST

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To: Alan Hume who wrote (1444)	8/27/1998 4:48:00 PM
From: Scott Maxwell	Read Replies (1) of 3069

Russia is a symptom. The disease is DEFLATION. Each time another country domino falls due to low commodity prices (and since the Russian government was unstably dependent on oil exports and loans for most of its revenue, it's the clearest case of all for a collapse caused by deflation), it just confirms to the markets that confidence is eroding everywhere, and increasingly here and in Europe, the last islands of stability. Combine that with some banking and investment exposure to losses directly from Russia and the pleasant sight of people waiting in lines to get hard currency in Russia, and you have a real confidence-eroder. All of that aside, VECO's products are cutting-edge, and likely to be in demand even in a world recession. Perhaps less demand, but the stock price reflects that already.

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