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Technology Stocks : Vitesse Semiconductor

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To: Ian White who wrote (309)11/27/1996 1:27:00 PM
From: Robert Schwartz   of 4710
 
To all who believe VTSS is over-priced:
If my memory is correct, VTSS traded with a PE of over 100 for the first 6 months of this year. Over this same period, earnings grew dramatically. Currently, with a PE of 70 and projected fy97 PE of 40, I don't see cause for great concern at $46. Knowing all to well that PE does not tell the whole story, could one of you explain what the fundamental concerns are at $46?
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