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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Jess Beltz who wrote (22226)	6/11/1999 3:24:00 PM
From: BillyG	Respond to of 25960

Sematech litho panel reaffirms 4X magnification standard for scanners A service of Semiconductor Business News, CMP Media Inc. Story posted 12:45 p.m. EST/9:45 a.m., PST, 6/11/99 By Jack Robertson CHICAGO -- An International Sematech task force reviewing lithography technology has voted to reaffirm 4X as the magnification standard for step-and-scan tools. During a meeting here this week, the panel considered proposals by some foreign chip makers pushing for a 5X standard and even one proposing 6X magnification for scanner exposure tools, according to a source in the meeting. The advocates of higher magnification standards have expressed concerns that photomask makers will not be able to produce 4X reticles at high enough throughput to meet chip maker needs. They argued that the finer details in writing 4X masks slows down the process. International Sematech's critical review of new optical lithography systems predicts that 193-nm and 157-nm wavelength deep-ultraviolet tools will extend to 0.10-micron feature size and perhaps even to 0.07 micron. The review of non-optical Next Generation Lithography continued to endorse both the competing Extreme Ultraviolet (EUV) and Electron Projection Lithography (EPL) systems. An Intel Corp.-backed consortium reported progress on EUV development. Two EPL presentations were made by a team of Lucent Technologies, Applied Materials and ASM Lithography which are behind on Lucent's Scalpel, and a rival electron-beam projection development by Nikon Corp. International Sematech had endorsed EUV and EPL at a workshop last December in Colorado Springs, Colo., as preferred candidates for the Next Generation Lithography (see Dec. 17, 1998, story). However, IBM Corp. continues to push x-ray lithography and a European group led by Infineon Technologies AG is still developing an ion beam projection approach.

To: Jess Beltz who wrote (22226)	6/11/1999 3:28:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 25960

Jess, you must put yourself in the shoes of the debentures holders, they are in for the interest return much more than for the timing of up or downs in the stock. Look at the short position of CYMI and you will see that within few months of the issue of the debenture the short position was established. That means that the debentures holders took out all the risk (namely shorted somewhere near or above the strike price) from their position by "selling short against the block". Now they have their money back but still get paid interest on the full sum, and they redeploy this in another convertible. If they were to cover their shorts, they will have money back at risk, these guys are not speculators, they manage money for maximum returns at the lowest risk possible. Zeev