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

To: Michael Payne who wrote (1826)	2/18/1998 2:14:00 PM
From: Marty Gymopski	Read Replies (1) \| Respond to of 5867

A couple of thoughts: Lam's #1 market position came at the expense of margin. Bagley and Johnson refuse to buy market share at the expense of margin. Thus, market share will likely fall as margins improve. Lam's TCP etch technology is patented and fundamentally better than Applied's. Applied competes by being a process integration company and by having superior cluster platforms with higher productivity. The thermal CVD business was losing money because their tool had reliability problems. LAM will use the money it saves by not selling this product for etch and CMP R&D. Lam's CMP tool is still unproven. The technology looks good on paper but I don't know what their market share is, anyone? And finally, I'm looking at an ad in SI from Lam. Say's they're not just an etch company anymore. Anyone think Bagley will acquire or merge to regain CVD? Just my ramblin' opinions....