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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 (7152)	10/20/1998 2:57:00 PM
From: Czechsinthemail	Read Replies (1) \| Respond to of 10921

Two thoughts on the BTB: 1) Given the numerous revisions we've had, there may well be a downward revision in the September figures. The low bookings figure doesn't in itself give much encouragement of an upturn. It may hint at a bottoming on the idea that things are so bad they aren't likely to get much worse, but many have been saying that for some time without clear indications of improvement. 2) If the BTB remains low for a continued period, many of the companies are likely to face serious margin deterioration due to heightened competition for pieces of a smaller semi equip pie. If semi companies have no need to make major investments right away, the buyer's market may pressure the semi equip companies further. Though there is always the point of view that from a long-term perspecctive the semi equips may be seriously undervalued, we may need clearer evidence of improvement for semi companies before the semi equip companies can really get in gear. Baird