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Technology Stocks : Cymer (CYMI)
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To: Zeev Hed who wrote (24658)4/7/2000 11:28:00 PM
From: XBrit  Read Replies (1) of 25960
 
Zeev, I know KLIC has tended to be undervalued. However, right now the FY2000 forward PE of AMAT, LRCX and friends is 50 and up, whereas KLIC's is 20. That large of a gap is both ridiculous and also historically atypical, so I hope to profit from it closing somewhat. (Also, KLIC's PE has been into the mid 30's at previous cycle peaks, another piece of evidence that the valuation right now is an anomaly).

I don't expect KLIC to go to $160 a share (the level required for PE parity with LRCX or AMAT). But I do expect it to outperform the sector on a few-week timescale. I certainly don't intend to keep KLIC at 40% of my portfolio for any length of time... I agree I am already way beyond prudent in the amount I have.
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