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

To: FJB who wrote (10766)	11/30/1997 9:16:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 25960

Robert, I can accept such a figure as an estimate, but according to some analysts, the industry has been spending in the last three years an outsized proportion of sales on new equipment, so, between here and 2001 (where I personally believe CYMI would have seen a share price in excess of $80/share) there must be a breath catching episode, some of the overbuilt fabs will need to be written off (you might even see one of the major Koreans go under, I hear that Samsung is already being asked to pay usurous interest rates for new loans and rollovers). I think that the current malaise in the semi-cap segment is mirroring such future development. The semicap BTB has already peaked and I believe will dip under 1 sometime in the next quarter or two. When that happens will be an excellent time to pick up shares of CYMI for the long haul. In the near future, I do not know whether CYMI unique position in the forefront of the drive to .25 microns DUV will save them stockwise (and I am not talking about sales and profits which I still expect to see grow despite the malaise) from some wrenching moments seeing the stock at 3 times book or only 2 times trailing 12 months sales. That will pass, but the question is will people have the guts and not dump their shares when it is darkest, just before dawn. Zeev