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Technology Stocks : WDC/Sandisk Corporation
WDC 200.46+6.8%Jan 9 9:30 AM EST
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To: Road Walker who wrote (15133)9/27/2000 10:01:21 PM
From: Art Bechhoefer  Read Replies (2) of 60323
 
John, it certainly is a valuation correction as you note. The odd thing, though, is how a change in perception of one or two key stocks can change sentiment toward the whole group, or sometimes even the whole market, regardless of the fortunes of individual companies. The correction in the price of Intel may be overdone, but has little or nothing to do with the prospects for SanDisk. Yet SanDisk reacts as if investors considered it no different from your typical semiconductor stock. Very strange in the sense that it doesn't explain why SNDK should have such a low price-earnings ratio in comparison to stocks such as Intel, which are facing at least temporarily reduced earnings forecasts.
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