FormFactor, Inc. (NASDAQ:FORM)

This is my favorite technology growth story for the next several years. I finally broke down and bought when it dipped below $38 for CAPS. It's not cheap but since it's one of my all-time favorite investments in real life, I had to have it in my CAPS port. I wish I could transfer my real basis of $17 over here. :-) FormFactor has an incredible competitive advantage in a niche technology called wafer probe cards. These are used to test integrated circuits before they are packaged. They have a commanding position in this market for DRAM devices, have just launched a new product that should put them in a similar position for FLASH memory, and are bringing out another new product later this year that should do the same for them in the Logic market (processors). In addition, the proliferation of consumer handheld devices is driving all chip testing to the wafer rather than having most of it done after packaging which is currently the case. FORM is the only company in the world with this capability. Size constraints in handhelds is driving all chips to be put in one package and it becomes paramount economically that the chip is known good before packaging. They will eventually be selling three sets of probe cards to every manufacturer for every version of every technology combination of every device they make. Or at least that's the idea. Hold on tight!