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

To: Ian@SI who wrote (22832)	8/7/1999 5:36:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 25960

Ian, I am not sure I agree with you, it is really a question of how you define your business and expertise. I would venture that excimer lasers for medical application will be in use long after other technologies will supplant the excimer laser in lithography. If CYMI defines its long range strategy by the market in which it operates, then you are right, if it defines its long range strategy by the technologies it commands, you may want to revisit your statement. Look at INTC, they always start at the high margin side of their business, but then go down the learning curve and compete head on in the low margin markets as well. Actually, you'll be surprised to know that excimer lasers with their ancillary equipment in the medical field cost about as much as lasers for UV lithography. Profits generated in that part of the business by Coherent is what is letting them stay in the race against CYMI. Last, if the business definition of CYMI is technologically oriented rather then market driven, I am sure that quite a number of other demanding applications for lower cost excimer lasers could be developed as well. If it is market driven, I think that CYMI missed an opportunity of a depression in the semi equip segment, which they could have used (with the massive cash on hand) to broaden their offering to the market. They did not, which implies to me they are still more technology rather than market driven. Zeev

To: Ian@SI who wrote (22832)	8/9/1999 10:37:00 AM
From: Sunny	Respond to of 25960

I am sure there is valuable information on the thread, but alas, I have not taken time to go back and read all of the 22,800 posts on this thread. thank you for your explanation on the relative demands for precision in the two market and the price differential. In the oil field business I run, I talk about value added products, and if the value of time saved is not worth substantially more than the customer pays me to rent the stuff, then it probably isn't a good decision for him to use us. Thanks for answering my question. Sunny