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

To: Scott Maxwell who wrote (3762)	12/12/1997 12:44:00 PM
From: Q.	Read Replies (1) \| Respond to of 10921

This morning I traded my LRCX for PRIA. The stock prices have behaved exactly alike (the 6 month charts are almost identical) but PRIA has almost zero Asia exposure whereas LRCX has as much as most other front end makers. Whatever sense the sell-off makes, it makes less sense for PRIA than for Lam. My idea here is that any forthcoming bad news re. earnings & pushouts is less likely from a co. that has no Asia exposure. I sitll think that Lam represents an excellent value, but in this case I'm adjusting my exposure to what I think is a similar value with less intermediate-term risk, while holding my sector exposure constant. The good news I'm expecting from Lam on the earnings front shouldn't start to develop for nearly a year, so I'm guessing PRIA will outperform LRCX in the meantime. Interestingly, as soon as I had done this, I got Carl Johnson's Daily notes by email, which mentioned PRIA's lack of Asia exposure, in what was almost a paraphrase of what I posted a few days ago on the PRIA thread.