FLSTF97,
Appreciated your post. Euphoria, as it relates to asset prices, is always a dangerous thing.
That said, I would not characterize LRCX's current valuation as euphoric. It is closer to euphoria than it was at $12, but it is not completely out of whack with their potential earnings power (toss in all the caveats here: sustainability of the recovery, various product meltdowns, management involved in a aviation accident, ...).
In terms of resentment toward a company, do you think that people will enjoy buying a MirraMesa that much more than buying a Mirra with an Ontrak cleaner? Clearly, AMAT is going to price the Mesa to move. But, in terms of concentration and arrogance, who is worse: AMAT or LRCX? (N.B., I am long both). I would argue that AMAT is viewed as more of a threat than LRCX.
We can look at other products and come to very different conclusions. For example, you can almost buy 2 Exelans for the price of one IPS.
Still, I do not disagree with you general point about what you perceive to be euphoria.
?I have heard several different numbers for the AMD/TERES order ... anywhere from 3 to 10?
--Duker |
