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

To: John Bloxom who wrote (13339)	1/29/1998 9:56:00 AM
From: pass pass	Respond to of 25960

With all the backlog, I don't see why they can't meet the numbers for this and next quarters. But pushout is an X factor.

To: John Bloxom who wrote (13339)	1/29/1998 11:10:00 AM
From: D.J.Smyth	Respond to of 25960

no e-mail John, but CFO did iterate in his conversation with me that they did receive push-outs, although he wouldn't specify to what extent or how it would work out and that he wouldn't be surprised if DLJ downgraded from a buy (i lead him on this question, i.e., my question, "would you be surprised if DLJ downgraded from a buy to hold?" his answer, "no"). he stated that the long term picture for Cymer (over the next twelve to eighteen months) was very promising. i asked which companies other than samsung where using Cymer lasers in production and he didn't know. i'll buy back into Cymer if earnings are okay, but my conversation with Angus concerned me. Angus was overly confident with Cymer at $30, and now he's being overly pessimistic (my interpretation). i hope for all the longs the earnings are great. it's the conference call that bothers me. i feel like i'm betraying the hope of the longs by even posting this information. Angus' comments have been instrumental, i believe, in causing the stock to fall. if you tell an instutional buyer what he told my group, what else would they do but hedge their positions? the bottom line question is to what extent these pushouts are already priced into the stock and if the pushouts received toward the end of December were made up by additional orders from ASML or SVGI, as he couldn't say from where the pushouts came. he said "we're assessing the situation." it should be made known that he seemed to indicate that the just ended quarter was not potentially affected by the pushouts, only upcoming quarters.