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

To: Jong Hyun Yoo who wrote (5235)	2/17/2005 1:19:40 PM
From: Cary Salsberg	Read Replies (1) \| Respond to of 5867

RE: "...during the downturn...the next upturn..." I don't believe the industry is in a downturn and I am not waiting for the next upturn. 2004 was a big improvement over 2003 and I expect 2005 to be about level with 2004. I expect gradual revenue improvements in 2006 and beyond. RE: "...these orders were for 130 nm node or larger..." I think the conference call said something like 85% 300mm and 85% below 100 nanometers. During an "inventory glut", it does not make sense that there will be big orders for older production technology. RE: "...next technology driver is ramp on 90 nm process..." This ramp has been under way for a while. The next driver is 65 nm. RE: "LRCX owns qualified processes for 10 out of the 11 major 300 mm 90 nm capable customers." With 3 kinds of etch and critical and non critical layers, what does "qualified processes for 10 out of the 11" mean and how many "qualified processes" do AMAT and TEL have? RE: "...with etch I prefer LRCX over AMAT." If and when you prefer AMAT, NVLS will be buying the distressed assets of LRCX. RE: "...which it used the profit to grow the other business." LRCX tried to do the same in CVD and CMP. It failed. Therein lies the difference between LRCX and AMAT and therein lies the investment risk with LRCX. Of course, with your finger on the pulse, presumably, you have less risk.