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

To: Gary Hoyer who wrote (9262)	11/12/1997 3:28:00 PM
From: TechHunter	Respond to of 25960

Downtick of Semi Equip. Maybe the bottom is near? Wednesday November 12, 2:11 pm Eastern Time SpeedFam , other equipment maker shrs lower By Jeff Mamera NEW YORK, Nov 12 (Reuters) - Shares of SpeedFam International Inc and several other semiconductor equipment stocks declined on Wednesday, continuing a slide analysts said was linked to ongoing concern that weak economies in Asia will cut into the companies' profits. SpeedFam shares were off 4-1/8 to 29-7/8 in early afternoon trading, down from a year-to-date high of 60-14/16. Other semiconductor equipment-maker shares that fell included Kulicke & Soffa Industries Inc (Nasdaq:KLIC - news), off 1-3/4 to 27, and KLA-Tencor Corp (Nasdaq:KLAC - news), down 2 to 41. Novellus Systems Inc (Nasdaq:NVLS - news) was down 7/16 at 40-1/2 and Ultratech Stepper Inc (Nasdaq:UTEK - news) off 1-1/8 to 25-1/4.'' ''These things are still going to test the lows that got reached in the last couple of weeks,'' said SoundView Financial analyst Michael O'Brien. ''There's so much nervousness out there.'' O'Brien said the nervousness stems from recent worries over weak Asian economies. The weakness would potentially mean chip makers will limit spending on new plants and equipment, impacting equipment makers. Yet, while worries about Asia have sent share prices down, the equipment-makers' actual order patterns have not diminished, O'Brien added. ''Everyone is still reporting very robust numbers, but the fear is that out into the second-half of 1998 you may see some (order) cancellations as people deal with over capacity,'' O'Brien said. SpeedFam, for one, was down Wednesday on general industry fears prompted by the Asian concern, analysts said. Investors worried whether SpeedFam's recently signed purchase-order agreement with Korea will be jeopardized if Korean companies do not get the financing they need to continue expanding. Officials at SpeedFam were not immediately available to comment. Other analysts, including JW Charles Securities analyst Allan Roness, said despite the share decline, SpeedFam's business is fundamentally sound. ''SpeedFam in its field is definitely, technically, a leader,'' he said, adding, ''They're supplying to a bad industry.'' Some analysts see the decimation of chip-equipment maker shares coming to an end soon. ''My impression is they are going to start hitting a bottom point,'' said SoundView's O'Brien. That bottom point might be later this month, when Applied Materials Inc (Nasdaq:AMAT - news) reports quarterly earnings, he said. Analysts are expecting strong results from Applied, according to O'Brien. Applied Materials shares stood off 1/2 in early afternoon trading Wednesday at 30-5/8. More Quotes and News: Applied Materials Inc (Nasdaq:AMAT - news) KLA Tencor Corp (Nasdaq:KLAC - news) Kulicke & Soffa Industries Inc (Nasdaq:KLIC - news) Novellus Systems Inc (Nasdaq:NVLS - news) Speedfam International Inc (Nasdaq:SFAM - news) Ultratech Stepper Inc (Nasdaq:UTEK - news) Keep the Faith Craig P.