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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (4310)	8/19/2000 3:06:34 AM
From: Dale Stempson	Read Replies (1) \| Respond to of 5867

Donald, This certainly has been a good week for the semis, and a very good one for Lam. I wouldn't be surprised to see some profit taking next week after this 25% run. We might also experience some resistance at $30 as I suspect there were plenty of folks who bought the mid-July dip and may be relieved to get out without a loss. In any case, if we move sideways for a little while, I think we'll be setting up for a continuation of this move up. IMO, end-of-cycle fear has impacted Lam much more than others (like AMAT an NVLS). We have another 15% to 30% to go before catching up. If you run a few comparison charts, you'll see what I mean. Now that industry optimism is returning due in a large part to broker reports and the like, perhaps we'll get some additional help from a couple of these analysts with some Lam specific commentary. After all, Lam currently has a good story to tell. Sequential bookings grew 12% to $495 million, were ahead of estimates and resulted in a book-to-bill of 1.32 to 1. Gross margins and operating margins are improving significantly. Lam repurchased $26 million in shares last quarter. They're gaining market share in Japan and CMP is ramping very fast. Regards - Dale