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Technology Stocks : Veeco Instruments-Who? -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (2006)	3/31/1999 10:20:00 PM
From: Carl R.	Respond to of 3069

I saw it last night, actually, and posted over on the thread. I was not surprised. In fact, I have been puzzling how ETEC could still have strong sales when their customers, DPMI, MASK, and PLAB are suffering from overcapacity. It's kind of like how WFR's troubles caught up with FERO. As for VECO, I don't expect any similar catastrophe. While drive sales are low, they have been that way for awhile and VECO's recent sales reflect few if any capacity related purchases. Instead most sales have been metrology related. VECO has a lot of different things going on, which is why they have survived this downturn so well so far. As for the overall market, I still do not see any major weakness this week, but I plan to be mostly cash by early next week. Even now I am holding a couple short positions (MU and CPQ) to partially offset the risk in my long holdings. Good luck, Carl

To: Zeev Hed who wrote (2006)	4/1/1999 4:19:00 PM
From: Donald B. Fuller	Read Replies (1) \| Respond to of 3069

Hi Zeev, One observation I have is that in general, AMAT seems very strong while many other equip makers waver. Beyond semi cycles and market issues, could there be another underlying stealth market factor working here - called AMAT eating virtually every other semi equipment maker's lunch? (VECO would be less sensitive to this phenomenon than many others IMO, as much of their biz is more DD than semi related). I'd be curious as to your opinion about this. Don (yep - you guessed it - besides VECO, I'm also big time long AMAT {and sadly also, long SFAM - a little CMP company that has had their head handed to them on a plate by AMAT})