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Technology Stocks : Vitesse Semiconductor
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To: Dr. Id who wrote (3380)2/29/2000 1:22:00 PM
From: Chuzzlewit  Read Replies (1) of 4710
 
JDB,

There is no paradigm shift in valuations. This is just one more bubble that will eventually burst. VTSS is now selling at around 125 x est. 2001 earnings with earnings growth expected to be in the 30% p.a. range. In something over 1 year I have seen the valuation of my investment quadruple for no other reason than momentum players piling on.

There is no reasonable financial model that justifies the current stock price, let alone the $135 target.

I am a great believer in this company, but I am very uncomfortable in playing the greater fool game. I haven't sold yet, but I'm getting a very itchy trigger finger.

TTFN,
CTC
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