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Technology Stocks : KLA-Tencor Corporation (KLAC)
KLAC 1,194-1.1%Nov 7 9:30 AM EST
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To: SemiBull who wrote (1480)5/16/2000 9:15:00 PM
From: Ian@SI   of 1779
 
By sector, I was referring to the semi equipment sector.

My reference to ASYT was the company writing off all the shareholder assets related to Asyst Automation; spinning them off to their own CEO; then buying those same assets back a year later (renamed to Palo Alto Technologies) thus transferring more shareholder assets ($$$) to the CEO without so much as a "how do you do" let alone a vote by the shareholders. I can do without that kind of what I call out and out thievery. The receiver of the shareholders' assets has a very different term and perspective.

By better value, I'm referring to Market Cap less Book Value as a ratio to expected Sales and expected Growth in revenues. - I'm not sure anyone else shares this definition of value: i.e. the net price paid to get a piece of growing revenues.

Highest on my list are MTSN, PRIA and SVGI - primarily because of my views re their growth prospects.

MTSN in Strip, CVD and 300mm with some other potential growth drivers;

PRIA as the interbay automation gorilla with a spate of greenfield fabs now being built; and 300mm promising substantial revenue growth.

SVGI with possible home runs in both its ProCell tool and the high NA 193nm Scanner attracting some very big chipmakers which would be wins for the company.

I doubt any of these companies would be called "value" stocks by OShaughnessy. 1-2 years out, we'll see if my definition beats the performance of the Cornerstone Value fund. Over a period of 20 years, I'd accept O'Shaugnessy's value definition without a second thought.

FWIW,
Ian.
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