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Technology Stocks : Cymer (CYMI)
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To: Zeev Hed who wrote (20806)1/30/1999 10:53:00 PM
From: Ian@SI  Read Replies (2) of 25960
 
Zeev,

I suspect that you're being somewhat harsh on CYMI's prospects.

1. The Chip and the Chip Equipment industries are on a long term growth trend with generally higher highs and higher lows for each cyclical peak and trough. (With the last trough being the notable exception.)

2. R&D: It's commitment to R&D has kept it a generation ahead of its nearest competitor for years. I see no reason for that advantage to disappear any time soon.

3. 300MM: I'm starting to get inklings of a 300mm pull in. The latest was in the PRIA conference call (1 719 457 0820 599671 for the replay). This will obsolete every currently existing leading edge fab once the rollout begins and generate a massive CAPEX investment program.

So CYMI's:

the BRAND NAME in lasers;
with a base of growing customers;
for which it has the monopoly;
and the R&D to stay leading edge;
with several imminent events to drive laser unit usage;
and the strongest global laser support organization.

While I wouldn't expect $100 / share this year, I would expect to see CYMI hit it long before WFR. ;-) (Though I believe you did revise that one down somewhat.)

JMHO,
Ian.
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