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Non-Tech : Invest / LTD
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To: Alski who wrote (11871)2/2/2000 10:55:00 AM
From: The Ox  Read Replies (1) of 14427
 
I checked out the GALT numbers and charts. I'm thinking this selling is a bit over done. The company is going to have a tough 1st Q '00. It may be dead money for a while but I find it hard to believe that it's going much lower if the market holds. I know that's a big IF but I don't really expect the market to totally tank here. I'm not suggesting loading the boat but it may be worth a look at the current level. EPS estimates for '00 are in the 70's cent range and in the mid 90s for '01. CSFB put out a $38 price target after the earnings release. Now they may have simply tried to slow the selling to get their clients out of the stock but for a chip stock to be selling around a 20PE on this year's earnings it seems to be in the 'bargain' category. There's no doubt that the chart looks like it's fallen and can't get up but I think it may be a decent contrarian play.
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