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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (10110)	1/26/2002 3:45:26 PM
From: Robert Douglas	Read Replies (1) \| Respond to of 10921

1000 units is double the last market high. I find that growth significant. Their competitors are Lambda Physik who got the shaft in the SVGI merger as their 193nm program was redundant and discontinued. Gigaphoton is the old Komatsu joint venture. They have political power in forcing Japanese litho makers to use their product, but don't seem to be able to leverage it. Recent reports are that Cymer is actually gaining share over them. <Why do you think they are the only "producer able to produce in quantity" when 18% of the market is served by 2 competitors? Because it's true. Most competitor's units have not even been for production units. By the way, the new 300 mm machines will sell for close to $20 million according to reports. Cymer is able to do end service almost anywhere in the world on their products. The average response time until a unit is back on line is between 2 1/2 and 4 hours. I doubt that their competitors can match that without enormous expense. Every year that Cymer puts 80% of the new lasers out there, their competitive advantage grows. This will shortly become a razor blade business with high margins. Estimate are that new laser chambers are needed between 1 and 3 times a year.