Craig, I do not know if 6.5 was the bottom, I can only guess it was not, or at least it will be retested. My reasoning is very simple, until the chips segment shows signs of bottoming and improving markedly their own bottom line, the equipment segment will probably continue down. For CYMI to really take off, we need to see a new wave of new fabs, not just upgrading of old fabs. Upgrading will allow CYMI to just hold at around breakeven but not make substantial progress on the top (and bottom) line, IMHO. As long as ASMLF is making new lows, I do not see why CYMI should not follow it. Since the book value is $4 or there about, and profits are in the $.05 to $.07 for the next few quarters, lows closer to (and possibly under) book value are not "impossibble". We are in a bear market and bear markets have a way of providing "unusually good" values.
Zeev |
