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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (5346)	5/8/1998 3:37:00 PM
From: Pseudo Biologist	Respond to of 10921

Justa, I have a few TER shares. It's a very solid company, perhaps second only to AMAT among the semi equips. It dominates (with Advantest of Japan; other players with much lower market share, from memory, are CMOS and LTXX) the automated test equipment subsector. TER has also diversified into telecom equip and even software testing; early for me to see how that's going. Recently it seems to have stepped a bit into EGLS territory. Its dynamics is a bit different from AMAT, NVLS, etc. as it is more of a back-end company. I think its book-to-bill tends to fluctuate a bit more than others (except, perhaps, KLIC) because of this. It should survive, perhaps stronger, any downturn, and take off whenever the upleg occurs. PB

To: Justa Werkenstiff who wrote (5346)	5/8/1998 11:49:00 PM
From: Pseudo Biologist	Read Replies (1) \| Respond to of 10921

Justa, previously I wrote <<Recently it(TER) seems to have stepped a bit into EGLS territory>> Thinking and reviewing this may have been a misinterpretation of a paragraph I read in their 1997 annual report; namely, and I quote: "Virtually all Teradyne semiconductor testers operate in tandem with electromechanical handlers and wafer probers(), and the close linkage between tester and handler suggests that many of our customers will be attracted by the opportunity to buy both from a single supplier." Then, they go on to talk about the Kinetrix unit, which will be shipping handlers and sorters (not probers!) in the first half of 1998. Of course, one could extrapolate that TER could move into probers eventually; not being an expert on this at all, I cannot say if this extrapolation would make sense at all. Sorry if this caused any confusion, PB ()EGLS is the leading US maker of wafer probers -- in case someone forgot.