Does anybody read these?
NEW YORK--(BUSINESS WIRE)--September 18, 1998--The Wall Street
Transcript has just published an issue with a 21-page focus on the
semiconductor equipment sector. Vital reading for investors and
companies in the sector, it features:
1) An extensive roundtable discussion featuring Mark Fitzgerald of
Merrill Lynch, Robert Maire of DLJ and Vadim Zlotnikov of Sanford
Bernstein. This distinguished panel of experts talks about new
technologies, such as migration to 300mm wafers and copper wiring
in chips, plus the current state of industry supply and demand.
Says Maire, "The industry has been hit by a double whammy -
overcapacity and reduced demand. And if you add to that Asia,
which is the sort of global macroeconomic issue that stops
companies from investing or having the free cash flow or ability
to borrow to invest, that is sort of a triple-witching impact
that the industry has felt." Stocks in the sector have performed
poorly recently, but the group names those to watch for the
upturn, and two stocks "to worry about".
2) Gerald Fleming, research director at Van Kasper, reviews the
sector and explains why historically there have been two upcycles
every ten years - both related to technology: "One of them is
where the industry is evaluating new wafer sizes, new
technologies. It tends to be a relatively moderate cycle....But
then the other cycle is a real boom where everybody has checked
out the new technology, and they just spend like there is no
tomorrow." He discusses most of the stocks in the sector, and
names his two long-term buys, plus the stock he believes has the
biggest upside potential.
3) An off-the-record article in which CEOs of semiconductor
equipment companies are reviewed confidentially by analysts,
money managers and industry experts. Superstars are identified as
well as the weaker managements in the sector, including the team
that a buy-side insider accuses of "sitting on their hands and
just focusing on the technology, not what the customer really
needed." Vital insight for investors.
Companies discussed in this special focus are: ADE (NASDAQ:ADEX); Advance Energy Industries (NASDAQ:AEIS); Applied Materials
(NASDAQ:AMAT); ASM Lithography (NASDAQ:ASMLF); Asyst Technologies
(NASDAQ:ASYT); Brooks Automation (NASDAQ:BRKS); CFM Technologies
(NASDAQ:CFMT); Credence (NASDAQ:CMOS); DuPont Photomask (NASDAQ:DPMI); Electroglas (NASDAQ:EGLS); Electro Scientific Industries
(NASDAQ:ESIO); FSI International (NASDAQ:FSII); IBIS Technology
(NASDAQ:IBIS); IBM (NYSE:IBM); Integrated Process Equipment (NASDAQ:IPEC); Intel (NASDAQ:INTC); KLA-Tencor (NASDAQ:KLAC); LAM Research
(NASDAQ:LRCX); Micrion (NASDAQ:MICN); Novellus Systems (NASDAQ:NVLS); PRI Automation (NASDAQ:PRIA); Silicon Valley Group (NASDAQ:SVGI); Speedfam International (NASDAQ:SFAM); Taiwan Semiconductor
(NYSE:TSM); Tegal (NASDAQ:TGAL); Ultratech Stepper (NASDAQ:UTEK);
Varian Associates (NYSE:VAR); Veeco Instruments (NASDAQ:VECO);
YieldUP Technology (NASDAQ:YILD).
For a copy of this complete issue, which includes interviews on
other topics with analysts, money managers and CEOs, contact Robert
Ruffin at (212) 952 7403 or use the web at
secure.addy.com. There is a $175 charge for
the issue. The Wall Street Transcript does not endorse the views of
any interviewee nor does it make stock recommendations.
The Wall Street Transcript is a premier weekly investment
publication serving serious long-term investors for over 35 years. The
Transcript publishes industry roundtables and interviews with Wall
Street analysts, money managers and company CEOs, and is read by top
money managers, brokers and individual investors. For subscriptions
information call (800) 246 7673.
CONTACT: The Wall Street Transcript, New York
Robert Ruffin, 212/952-7403
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