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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Clarksterh who wrote (1753)	1/22/1998 3:44:00 PM
From: Kirk ©	Respond to of 5867

Great notes! Thanks! regards Kirk out

To: Clarksterh who wrote (1753)	1/22/1998 4:18:00 PM
From: H-nator	Respond to of 5867

Thanks for the meticulous notes, H-nator

To: Clarksterh who wrote (1753)	1/22/1998 10:33:00 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 5867

Clark, Excellent notes - Thank you! As a listened to the CC, I had two disparate reactions. First, this year is going to be tough ... revenues will be under pressure, earnings will disappoint and here come the analyst downgrades - again! OTOH, the upside could still be tremendous. If (big if) Mr. Bagley delivers 10% net margins (he is forecasting 12 to 14%) by the middle of '99, LRCX will be earning $2.50 per share (on a yearly basis). This is on revenues of only $1 Billion or $250M per quarter. Very possible. At least the turnaround story and the timing have not changed. BUT, I was hoping to see some margin improvement in fiscal Q2. And with the projected decrease in revenues, it sounds like margins will probably not improve in the coming quarter. Obviously, margins are the key in the short term and the stock will probably stay under pressure until there is visible gross margin improvement. Thanks again! Regards, Bill