Mthree, the market is behaving "climactically", so it could turn on a dime. However, in cases like that, it often retest these lows within 4 to 12 weeks. I do not think that CYMI should go under 8, unless they come up with a losing quarter. The fact than the Japanese have been shipping 30% less system for this year might or might not be in the price. ASMLF fall today could be a warning. I'll tell you, however, that I absolutely did not think I'll see WFR at around 5, so I am not very good at seeing ahead of time the actual low price. At $5, CYMI would be selling at less than 10 times expected earnings next year (if these hold), so it is not unheard (look at smtl, mask and few other semi equip selling at quite low pe's).
Zeev |
