Chris,
IMO, CSCO is, and will remain, a fine company.
Your understanding of CYMI seems to be lacking.
... 193nm technology that CYMI has the market lock on will not be employed for real production until 2001-4!!!
CYMI has a monopoly position with the 248nm laser technology. There's less than 5 non CYMI 248nm lasers at chipmaker sites. CYMI has remained at least a generation ahead of the other 2 companies that would like to be its competitors for this technology. Thus they have no pricing power while CYMI does.
...the financial management and communication with the street has traditionally been nightmarish, not making it one of Wall St's favorites.
If the statements were true, that's usually the best time to buy a good company - when it's out of favour. You know, BUY LOW. ;-)
But your statements tend to be somewhat of an exaggeration.
i.e. Out of 6 analysts covering CYMI, there's 1 strong buy, 2 moderate buys and 3 holds. Not exactly Wall Street's darling yet, but I wouldn't call it nightmarish especially for a company in a sector that's just finished going through the worst downturn that the Equipment sector has seen in at least 2 decades.
And the financial management has been superb. They're sitting on a ton of cash which they got on very attractive terms. They've been profitable since going public, even when other leading Equipment Companies have taken major losses.
If this is your definition of "nightmarish", give me your list of nightmarish companies. IMO, they're very likely to be certain market beaters.
FWIW,
Ian. |
