I've noticed the semiconductor stocks have returned near or close to record levels. The Sox hit a new all time high earlier this year. however revenues certainly aren't at their peak and neither are earnings. The book to bill is to blame, without it these stocks will continue to trade at irrational levels. One that isn't is intel, i would say off the top of my head the rest are, but there are probably a few exceptions. Growth in the semi sector doesn't mean a pe of 30+ is worth it, everyone (most) has forgotten this is a cyclical sector.
Some of the most overvalued semis include vitesse, triquent, sierra, mchp, lscc, lsi, txn, etc, etc... |
