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

To: Wes who wrote (1801)	2/13/1998 1:19:00 AM
From: SMALL FRY	Read Replies (2) \| Respond to of 5867

I'm new to the thread and am thinking of getting into LRCX as soon as it stabilizes. It seems like most of the negativity in the semi-equips are also reflected here. Re: This is very disturbing since it seems more probable now that Lam will soon become a "has-been". It's competitors are better off financially and management-wise are will weather this storm more effectively. Lam will lose market share and will be at a disadvantage even when the boom cycle starts again. I wouldn't count this company out just yet. They've just had an influx/migration of new blood from other cos, some notably good people from AMAT, and I have a feeling that the exit from flat panel and Thermal CVD came with a lot of guidance from those in the know. Why swim upstream? I have a feeling that this redirection will be for the better. For the short term...the street, as was exemplified in not too distant past, has a way of rewarding those cos that have taken cost cutting measures... so we'll see. Regards All, SF

To: Wes who wrote (1801)	2/13/1998 1:55:00 AM
From: Andrew Vance	Respond to of 5867

For what it is worth, I wholeheartedly agree with you. LRCX walks away from this much weaker and at a future disadvantage. They are in serious jeopardy of being a Has Been as you pointed out. I have had the same opinion of SVGI for quite awhile. SVGI will not be a formidable player in the DUV market as indicated by the CYMI conference call. The top 3 make up more than 75% of their customer market and SVGI is about 6% of their sales. The price of SVGI has been lackluster. The same may be true about LRCX. I think they have conceded the CVD business to NVLS and AMAT. And I do not just mean the thermal CVD. The HDP-CVD from LRCX has limited exposure in the marketplace and with recent events, stands a good chance of scaring off potential customers. I would certainly go for the AMAT system now, since I do not know if and for how long LRCX will support their system down the road, if conditions deteriorate further. The call did not address the 300mm issue to the best of my recollection. My gut feel is that LRCX needs a solid partner to go forward. The ONTK acquisition was a good move but it is not enough. They need to combine once again with a good ally to remain a player in their sector. They all but AND admitted they will be losing marketshare. I was fortunate to sell before the close today. It was pure luck since I was going to cash for other reasons and LRCX was at a decent profit level. Regards Andrew