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

To: Q. who wrote (6353)	7/23/1998 8:25:00 AM
From: Mason Barge	Read Replies (2) \| Respond to of 10921

Bad news worse news terrible news: 1) Moody's to cut Japan's credit rating from Aaa. This means a certain additional delay in Asian economic recovery, another round of equity devaluation, and more difficulty in lowering income taxes (corporate or personal). The Liberal Democrats, sticking their heads even farther into the sand, are reported to favor the least reform-minded of the leading candidates to form the new government. 2) Revenues coming in even lower than expected at KLIC, BRKS. Asyst was surprisingly strong (IMHO), but it is a tiny player. The question now is survival -- how well can the individual players retain their liquidity, R&D budgets, and personnel for the eventual upturn? 3) The btb is a disaster. No, it's not the lowest it's ever been, but the length of the slump and the amount of falling bookings, with no recovery in the wings, is going to drive prices lower. Can you imagine what earnings reports will look like in October? Bookings are at $900MM. Brooks reported a predicted additional bookings drop of 15% this quarter.