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

To: Greg Jung who wrote (7210)	10/29/1997 9:04:00 PM
From: F. Lynn	Read Replies (2) \| Respond to of 25960

actually, ibm shares have doubled in the last two years, but that is more a reflection of perception than anything else; the core business has remained the same. i actually did not intend for the post to advocate either, but just to point out that buying back stock is not the best use of funds for fast growing companies with high ROE.. as to cymer's earnings--my number is based on last fiscal year; but my point remains valid regardless of using last fy, ttm or forward earnings:unless the inverse of the p/e is greater than ROE, companies should not buy back shares but reinvest in the business. how this couldsbe interepreted as a bearish company is beyond me...i am long cymer...