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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (3470)	11/14/1997 12:31:00 AM
From: Scott Maxwell	Read Replies (1) \| Respond to of 10921

Cymer gets a big premium for the reasonably good possibility of its keeping a near-monopoly in a highly profitable and rapidly growing niche. Adding back "technology value" and "monopoly value" <g> allows one to contruct a reasonable case for it as a "value" play at this level -- the fact that R&D over the years, and the value of the results of that R&D, are typically expensed and not visible on the balance sheet makes value accounting for companies which derive most of their value from a technology more difficult. I bought a little today on that basis, though I think SVGI and UTEK win any value contests.