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Technology Stocks : Asyst Technologies (ASYT) Good Value/Where is the Bottom? -- Ignore unavailable to you. Want to Upgrade?

To: Mason Barge who wrote (647)	3/11/1998 4:11:00 AM
From: Yakov Lurye	Respond to of 2313

Mason, I keep trading in and out of semi-equips using my monthly/daily models (added few minor predictors to complement SOX), so my long position in ASYT may be relatively short-lived. Overall though, ASYT looks quite attractive as a long-term investment, so I'll try to accumulate a small core position. Hope this year had been good to you. Y.

To: Mason Barge who wrote (647)	3/12/1998 1:37:00 PM
From: Smilodon	Read Replies (1) \| Respond to of 2313

Notes from DLJ conference call. Of the companies on the call (Ultratek, Mattson, DuPont, PRIA) Asyst was the most positive. No Korea exposure, with heavy concentration in Taiwan and Singapore. Seeing good orders in Taiwan, especially TSMC. Cited one analyst who expects 30% growth in Taiwan for 98. Have traditionally done little in Japan, but are using the slowdown as opportunity to expand. Severed relationship with their local rep and are establishing a direct sales force. Haven't seen cancellations in the US, but business is slowing. Europe seems to be taking up some slack. OEM business is increasing, but due to the volatile nature of this business, they are cautious. Book to Bill for the March Qtr will be below 1. Recent single digit sequential sales growth rate expected to moderate slightly. See 1999 as a very good year. My analysis: Key point is they expect growth to moderate as opposed to forecasting a decline in revenues like many other Semi-Caps. Taiwan and TSMC could help ASYT sail through the slump if they keep their spending up. Analysts are unsure if Taiwan will keep spending, but the news in that area continues to suggest they will.