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

To: AJ Berger who wrote (4154)	12/26/1997 12:12:00 AM
From: Sleeperz	Respond to of 10921

>>What are the Memory TESTer Plays out there?<< Fortuately none are pure plays, Memory is cyclical. Teredyne - TER,nyse CMOS - CMOS, nasdaq Mosaid - MSD, TSE cl

To: AJ Berger who wrote (4154)	12/26/1997 9:23:00 AM
From: Jay M. Harris	Read Replies (1) \| Respond to of 10921

Hello AJ, I believe Teredyne has very good technology in this area. I don't follow the stock, but agree with you that this area of the back end is vey hot due to the migration of memory fabs to 100 MHZ and SDRAM. I have often wondered whether I should begin to follow the stock because of the above reasons. Frankly, I bit off more than I could chew with Veeco and the move to MR & GMR. These stocks are very difficult, and require an inordinate amount of time for a banker to grasp the slope of the learning curve. I guess I'm spread too thin. I've been sliced with Veeco & Cymer, down 50% on both. My perception currently is that the street doesn't care about the engineering challenges currently in back end test and Teredyne's superior technology won't support a sustained rally. This is because we are headed into very difficult waters in semi land. AJ, I currently believe up to 6 fabs are going down in this cycle and that Teredyne will be caught up in the negative sentiment regardless of their fundamental position. Hope this helps, Jay