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

To: Proud_Infidel who wrote (5012)	6/24/2004 2:19:21 PM
From: Cary Salsberg	Read Replies (1) \| Respond to of 5867

RE: ...revenues were $231.1 million... Net income was $19.2 million, or $0.13...Ong's estimate is...$395 million in orders." Ong should give an EPS estimate for the quarter when $395M orders is translated to sales. That is $164M above last quarter's revenue. If 40% of incremental sales are brought to the bottom line, that adds about $0.42 and brings EPS to $0.55. Flattening out at an annual rate of $2.20 doesn't seem bad for a $25 stock and a 20 PE gets it to $44. The CMP business is almost nil, so it should only be a possible future plus, not a cause for concern. LRCX competes with AMAT and TEL, two of the industry's leaders, in etch. If they can maintain market share or gain a little, that is great, the risk has always been loss of market share.