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Technology Stocks : FSII - The Worst is Over? -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (1585)	11/9/1997 8:51:00 AM
From: Joe Dancy	Read Replies (1) \| Respond to of 2754

Thanks Don. Ugly short term numbers for FSII. For what it is worth this might look a little better: Copyright 1997 Business Wire, Inc. November 4, 1997, Tuesday Semiconductor equipment to grow 13.7% in 1998 DATELINE: WILLIAMSBURG, Va. Nov. 4, 1997--The total worldwide market for front-end processing equipment will grow 13.7% in 1998 (up from 8.2% forecast for 1997), according to The Information Network, a Williamsburg, VA-based market research company. "Quarterly revenue reports by leading equipment manufacturers are consistent with our findings that 1997 should be an up year, with revenues growing 8.2%," notes Dr. Robert N. Castellano, president of The Information Network. "In the latest quarter, IPEC (NASDAQ: IPEC), Novellus (NASDAQ:NVLS) and KLA-Tencor (NASDAQ: KLAC) reported revenue increases of 74.5%, 27.5% and 19.5%, respectively. The economic recovery in semiconductor equipment is under way in the U.S. and the rest of the world and continuing through 1998. The remainder of the industrial world is essentially out of its recession, and healthy demand for products at home, plus corporate cost-cutting, will raise profits. Increased corporate investments in capital equipment and consumer goods will fuel increased demand in the automotive, computer, and telecommunications sectors, making electronic components one of the fastest-growing U.S. industries. Consumer confidence is fueling robust demand for PCs, which in turn, is driving the semiconductor industry. Increased power of these PCs is utilizing more memory and peripherals. The ubiquity of the PC as a portable tool for mobile and personal communications will have a positive effect on manufacturers of microprocessors, controllers, memory, and ASICs. Prices of PCs will continue to drop. A significant reason is the lower price of DRAMs and components. Profit margins of computer companies selling to the corporate world will remain healthy, while there will be tight margins in the consumer PC market. Corporate profits, bulging because of the purchases by the consumer, have been utilized to expand the existing manufacturing base and have resulted in further purchases of semiconductor-based products such as LAN servers, workstations, large computers, robotics, and telecommunications equipment. In turn, semiconductor manufacturers have increased capital spending, which has been a boom to equipment and materials suppliers. All these factors are pointing to a growth of 13.7% in 1998. As for worldwide front-end semiconductor processing equipment sales, we project the following: 1997 1998 Plasma etching $ 3.40B $ 3.77B 10.9% Dry Strippers $ 439M $ 471M 7.3% PVD $ 2.01B $ 2.23B 10.9% CVD $ 2.10B $ 2.34B 11.4% Step-and-Repeat/Scan $ 5.58B $ 6.60B 18.3% RTP $ 203M $ 228 12.3% Resist Processing $ 1.69B $ 1.89B 11.8% The Information Network is a leading consulting and market research company addressing the semiconductor, computer, and telecommunications industries.

To: Donald Wennerstrom who wrote (1585)	11/15/1997 7:06:00 PM
From: Donald Wennerstrom	Respond to of 2754

Here is an update of the "index" for the week just past. We had a little "bounce" last week that brought the index up 3 percent, but this week we are down 5 percent. It looks like the trend is still down. It would seem we are going deeper and deeper into oversold territory. CUM CLOSING SUM PERCENT PERCENT PRICE CLOSING GAIN/ GAIN/ DATE PRICES LOSS LOSS 04/25/97 652 06/06/97 859 32 32 06/13/97 824 -4 28 06/20/97 857 4 32 06/27/97 873 2 34 07/04/97 918 5 39 07/11/97 986 7 46 07/18/97 1035 5 51 07/25/97 1073 4 55 08/01/97 1090 2 56 08/08/97 1115 2 59 08/15/97 1125 1 60 08/22/97 1235 10 69 08/29/97 1239 0 70 09/05/97 1268 2 72 09/12/97 1262 -0 71 09/19/97 1271 1 72 09/26/97 1252 -1 71 10/03/97 1258 0 71 10/10/97 1256 -0 71 10/17/97 1076 -14 57 10/24/97 936 -13 44 10/31/97 889 -5 39 11/07/97 914 3 41 11/14/97 865 -5 36