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Technology Stocks : Speedfam [SFAM] Lovers Unite ! -- Ignore unavailable to you. Want to Upgrade?

To: HoodBuilder who wrote (3024)	5/26/1998 8:17:00 PM
From: Jay M. Harris	Read Replies (1) \| Respond to of 3736

Michael, downturns have a tendency to force management teams to the table as a way of becoming more efficient and extending R&D resources. However, large premiums are rarely extracted during downturns. The economic advantage of a merger would be born out over the next upturn as scale becomes more important while exploiting the intended market opportunity. The CMP market opportunity is very real. All memory makers are currently evaluating the process. However, they are NOT building new fabs. They are retrofitting existing fabs as a way to save money. Consequently, there is a several quarter lull in CMP tool uptake as .25 micron capacity is being worked into existing lines and qualified. This is not the end of the world for CMP tool vendors. Rather, this will be an opportunity for level headed market participants to pick up strategic technology stocks inexpensively. Good Luck and be patient, Jay