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

To: Mason Barge who wrote (4365)	1/8/1998 6:22:00 PM
From: Jay M. Harris	Read Replies (1) \| Respond to of 10921

Mason, interesting strategy! I think you are correct with ASMLF; CYMI; and AMAT. I would add Veeco and Teredyne to the strong stock list. I think LRCX may crash and burn long term. Good Luck, Jay

To: Mason Barge who wrote (4365)	1/10/1998 2:16:00 PM
From: Donald B. Fuller	Respond to of 10921

In addition to those you listed, my personal favorite strength companies are VECO and SFAM. VECO equip appears essential to enabling HDD companies to produce leading edge (GMR) DDs (witness VECO's growing relationship with IBM, who appears to suddenly be eating the rest of the DD makers for lunch, for example). VECO has a pretty conservative p/e that I can't immediately exactly put my finger on. They warned about a month ago and were slashed by the market below and beyond what was appropriate, IMO. SFAM is currently trading around 25 bucks/sh. It has a b.v. of $18.61/sh, ~ $11.00/sh in cash and trailing earnings of ~$1.69/sh. Their earnings growth is in spite of a very strong and growing r&d expenditure. They could have assuaged investors with higher eps and lower r&d spending, but are choosing instead to continue to try to lead the CMP process development race. It has occasionally been knocked back to the low $20's/sh the last month or so, at which level it becomes like trying to hold a cork under water. Note: AMAT is investing heavily here too, which is the main SFAM risk IMO. Don