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

To: sepku who wrote (11560)	12/15/1997 1:55:00 PM
From: Czechsinthemail	Respond to of 25960

A Tale of Two CYMI's It was the best of times and the worst of times... It is interesting to note the divergence between CYMI's business which seems to be continuing great and the stock price which has taken it in the shorts along with virtually all other semi-equipment companies. The weak stock price seems to keep reincarnating fears that "something is wrong" in the earnings picture. The Asian news, which has been the focal point, seems mixed. While there may be some cancellation or delays of major fab production, there seems to be a lot of upgrading of existing fabs to 0.25 micron capability. Also, while there have been many downgrades, so far CYMI and its customers have not been targeted. Though we may have to wait out the next earnings announcement to validate CYMI's relative earnings strength among the semi-equip companies, its recent price weakness makes it an unbelievable buy. CYMI has not yet been able to distinguish itself from other players in the semi-equip business and so has been painted with the same broad brushstrokes. There is very little optimism priced into the shares at current levels, but a strong quarter or two with good conference calls will no doubt stir up some new believers. Meanwhile, Gruntal analyst reiterates a "strong buy" for Motorola. And AMAT is trading up despite downgrades. Hopefully, we've hit enough oversold for a rebound. Baird