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

To: Ian@SI who wrote (7020)	9/22/1998 11:51:00 AM
From: Mark Oliver	Read Replies (1) \| Respond to of 10921

Does anybody read these? NEW YORK--(BUSINESS WIRE)--September 18, 1998--The Wall Street Transcript has just published an issue with a 21-page focus on the semiconductor equipment sector. Vital reading for investors and companies in the sector, it features: 1) An extensive roundtable discussion featuring Mark Fitzgerald of Merrill Lynch, Robert Maire of DLJ and Vadim Zlotnikov of Sanford Bernstein. This distinguished panel of experts talks about new technologies, such as migration to 300mm wafers and copper wiring in chips, plus the current state of industry supply and demand. Says Maire, "The industry has been hit by a double whammy - overcapacity and reduced demand. And if you add to that Asia, which is the sort of global macroeconomic issue that stops companies from investing or having the free cash flow or ability to borrow to invest, that is sort of a triple-witching impact that the industry has felt." Stocks in the sector have performed poorly recently, but the group names those to watch for the upturn, and two stocks "to worry about". 2) Gerald Fleming, research director at Van Kasper, reviews the sector and explains why historically there have been two upcycles every ten years - both related to technology: "One of them is where the industry is evaluating new wafer sizes, new technologies. It tends to be a relatively moderate cycle....But then the other cycle is a real boom where everybody has checked out the new technology, and they just spend like there is no tomorrow." He discusses most of the stocks in the sector, and names his two long-term buys, plus the stock he believes has the biggest upside potential. 3) An off-the-record article in which CEOs of semiconductor equipment companies are reviewed confidentially by analysts, money managers and industry experts. Superstars are identified as well as the weaker managements in the sector, including the team that a buy-side insider accuses of "sitting on their hands and just focusing on the technology, not what the customer really needed." Vital insight for investors. Companies discussed in this special focus are: ADE (NASDAQ:ADEX); Advance Energy Industries (NASDAQ:AEIS); Applied Materials (NASDAQ:AMAT); ASM Lithography (NASDAQ:ASMLF); Asyst Technologies (NASDAQ:ASYT); Brooks Automation (NASDAQ:BRKS); CFM Technologies (NASDAQ:CFMT); Credence (NASDAQ:CMOS); DuPont Photomask (NASDAQ:DPMI); Electroglas (NASDAQ:EGLS); Electro Scientific Industries (NASDAQ:ESIO); FSI International (NASDAQ:FSII); IBIS Technology (NASDAQ:IBIS); IBM (NYSE:IBM); Integrated Process Equipment (NASDAQ:IPEC); Intel (NASDAQ:INTC); KLA-Tencor (NASDAQ:KLAC); LAM Research (NASDAQ:LRCX); Micrion (NASDAQ:MICN); Novellus Systems (NASDAQ:NVLS); PRI Automation (NASDAQ:PRIA); Silicon Valley Group (NASDAQ:SVGI); Speedfam International (NASDAQ:SFAM); Taiwan Semiconductor (NYSE:TSM); Tegal (NASDAQ:TGAL); Ultratech Stepper (NASDAQ:UTEK); Varian Associates (NYSE:VAR); Veeco Instruments (NASDAQ:VECO); YieldUP Technology (NASDAQ:YILD). For a copy of this complete issue, which includes interviews on other topics with analysts, money managers and CEOs, contact Robert Ruffin at (212) 952 7403 or use the web at secure.addy.com. There is a $175 charge for the issue. The Wall Street Transcript does not endorse the views of any interviewee nor does it make stock recommendations. The Wall Street Transcript is a premier weekly investment publication serving serious long-term investors for over 35 years. The Transcript publishes industry roundtables and interviews with Wall Street analysts, money managers and company CEOs, and is read by top money managers, brokers and individual investors. For subscriptions information call (800) 246 7673. CONTACT: The Wall Street Transcript, New York Robert Ruffin, 212/952-7403 twst.com