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

To: Proud_Infidel who wrote (24578)	3/24/2000 12:19:00 PM
From: Bookdon	Respond to of 25960

That's true, but don't be surprised if at some point CYMI is bought by a bigger player:(for example) AMAT might very well decide to buy a major stepper maker (ASML?) AND a laser supplier. Vertical integration of a laser could give a long-term edge over competitors. Don't overlook this possibility

To: Proud_Infidel who wrote (24578)	3/24/2000 12:20:00 PM
From: FJB	Read Replies (2) \| Respond to of 25960

I believe part of the reason for the difference between two is the fact that there is little doubt that PRIA will be around 10 years from now as a necessary supplier. The same cannot be said for CYMI once EUV or XRAY litho takes over several years from now. You must not be reading news related to Cymer. 193nm lithography is not expected to become a mainstream technology for several years. In 2003, ArF lithography is still expected to be less than 20% of the DUV market. With respect to EUV or EBL(few people are talking about X-ray lithography these days) taking over in five or ten years, you should be aware that Cymer is refining its EUV source and have been pleased by the level of interest shown by the industry. I don't think anyone values these stocks on what they will be doing 10 years from now. The stocks will be selling at huge discounts(like 10% to 20% of their peak valuations) for the three cycles we will have before then. The industry will always be cyclical. Bob