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Technology Stocks : Asyst Technologies (ASYT) Good Value/Where is the Bottom?
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To: Think4Yourself who wrote (1083)9/17/1998 9:34:00 PM
From: Ian@SI  Read Replies (1) of 2313
 
Ken,

At least 2 strong reasons not to buy back shares now.

1. No one knows when this downturn will end including the CFO's of these equipment companies. Cash is the most important asset to ensure their viability.

2. Once the next upleg starts, a little cash may make the difference between an attractive acquisition and struggling until the next cyclical peak.

And as a final point, cash will be required to gear up during that upleg: more employees; more WIP, more inventory in general; and more capital expenses.

Squandering a precious resource in order to gratify a couple shareholders for a couple hours doesn't strike me as a particularly farsighted use of cash at this time.

JMHO,
Ian.
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