Cymer (CYMI) Message Board

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Technology Stocks : Cymer (CYMI)

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To: Curlton Latts who wrote (20677)	1/22/1999 2:11:00 PM
From: Ken Zeller	Read Replies (2) of 25960

Hey Curly, I do, I really do enjoy your posts. You may be an unabashed cheerleader, but you are consistent in your spin, write well and are usually well informed. You're not still upset about me asking if you were "Mr Master of the Universe 20 gazillion shares short" are you. You're right about the institutional o'ship. My E-Trade data is old. Looks like 25-30% is the current figure. I wonder how much MSDW holds of that? Accurate metrics being highly valued, I must point out that your positive spin on the ML report is a bit of a stretch and a little incomplete. Accurate as far as it goes, however. Merril gives a 12-18 month price target of $25 assuming a 25 multiple based on year 2000 earnings of $1.00. They peg 1999 earnings at $.22. So a 25 multiple on forward 12 months would give us $5.50. That is obviously low so let's use your 100 multiple(given CYMI market share and tech advantage) x .22. $22 seems a fair valuation at this time and maybe going forward until late 99 when the equipment makers fill the pipeline again. I don't mean to be combative, but the glass IS half empty. N'est pas? KenZ

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