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

To: Katherine Derbyshire who wrote (5612)	5/30/1998 6:22:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 10921

To thread, From this week's Barron's, the take of an ABN AMRO analyst on when the Equipment Sector upturn is likely... Another company in the sector, Lam Research, makes the equipment for manufacturing semiconductor chips. Last August the company sold $310 million of 5% convertible subordinated notes due in 2002 with Lam stock trading in the high 50s. Now the shares trade around 23 and the bonds have fallen to 83. Lam has $350 million in cash, however, and $340 million of debt, most of which is the outstanding convertible notes. "The industry is set for a turn. It should occur, at the latest, in the first half of 1999," explains Ryan Alexander, an analyst in ABN Amro's convertible research department, who likes Lam's converts. "You're being paid to wait for the turn." Whole story at: interactive.wsj.com For WSJ subscribers.