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

To: Bryan Steffen who wrote (17556)	5/18/1998 3:38:00 PM
From: FJB	Read Replies (1) \| Respond to of 25960

Bryan, I'm sure the management of Cymer does ponder what will be happening in 20 years, but are you as an investor going to wait ten years for the picture to clear up before taking a stake in the company? RE:However, once their lasers are not used in the critical layers, they have lost their pricing power and market dominance. Once the market makers and institutional money see the end of the road for a technology company, their exit from this stock will be much greater than it was a few months ago. You're making a joke here right? "Market makers and institutional money" looking 10 to 20 years into the future to make buy/sell decisions! I highly doubt this. "End of the road"? Man, we just got on the on ramp. Bob

To: Bryan Steffen who wrote (17556)	5/18/1998 6:46:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 25960

Bryan, I am sure they do not need our advice in this respect, but to add my 2 cents. First is first, they must protect their advantage in their field, once that effort (a continuing one) is well tended, they'll need to decide how to leverage their unique position to maintain growth post the bolus of rapid growth in the next five years. They can chose to develop additional markets for their technology (and I know of only few areas where $500,000 pieces of capital equipment like these have a sufficiently rapid pay back), vice versa, since by then they would have established "distribution channels" into the semi equip as well as the final semi fabs (through services and parts), they can chose to expand to additional technology(ies) serving their existing base of customers. Starting with both a new technology and new customers is like having a completely new start up with all the its attending risks, IMHO. Zeev