Ian, CYMI has a capacity of about 1000 lasers per year, and I believe that they will not reach this capacity until the next peak in expansion which right now people are putting it at 2002 or 2003. If this capacity is reached, sales will be around $500.000.000, and yes, if CYMI is then valued at 6 times sales, it could reach $100/share, but you have to admit that this is quite a high valuation going into a future downturn. I still see a peak at around $60, which, IMHO, will be quite exuberant as well, yet not bad if one can buy the shares between $25 to $30.
Zeev
|
