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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (20921)	2/1/1999 6:32:00 PM
From: FJB	Respond to of 25960

but I was under the impression that the channel is quite "full" Exactly Zeev, the channel has to clear out a little, before new orders are placed. I'm sure we'll learn more tonight.

To: Zeev Hed who wrote (20921)	2/1/1999 6:52:00 PM
From: Ritz	Read Replies (2) \| Respond to of 25960

Zeev: Simply examining the results from SVGL and ASML would have revealed that neither showed a QOQ booking increase in Q4, and indeed neither was expecting one in Q1 of this year (both did predict booking increases in 2H of this year). With a pick up in end-user stepper demand yet to materialize it would be unrealistic to have expected bookings increases for Cymer in either the last or the current quarter. -Ritz

To: Zeev Hed who wrote (20921)	2/1/1999 7:27:00 PM
From: Clarksterh	Read Replies (1) \| Respond to of 25960

Zeev - Re: BTB less than 1 As Robert has said, the problem is that the channel for Cymer lasers is stuffed. Last quarter the channel held 30% of all the lasers Cymer ever shipped. Even if there was a marked up-tick in orders to the stepper manufacturers I would be surprised if they didn't work down their inventory. When I bought Cymer 4 or 5 months ago this was expected by me, and a worry, but in the end I expect it will result in an upside whipsaw effect later in the year, so I'm not going to get too uptight. Clark