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Technology Stocks : Varian Semiconductor Equipment Associates -- VSEA
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To: BMcV who wrote (1112)10/27/2000 8:17:37 PM
From: Proud_Infidel  Read Replies (2) of 1929
 
2 more to look at for more perspective, while remembering VSEA made $1.06 for Q4:

EMC's estimated EPS for the entire FY ending Dec '01 is $1.02

CSCO's estimated EPS for the entire FY ending July '02 is $.95

H&Q downgraded VSEA because they forecast only 30% revenue and 50% earnings growth, resulting in a forward PE of 6, but upgraded JDSU with a forward PE of 75-100!


Makes you wonder what these people are actually getting paid for on WS. If equity analysis simply turns into a game of Buy because there is a good chance others will be buying soon, or Sell because while the company is doing fantastic there is really nobody interested in a cash generating machine at the moment, then there is little reason to do any real company analysis whatsoever. Simply kick back and wait until something makes a big move, and buy into it and hype it regardless of whatever price it is trading at.

I am always amazed that the courage of the Institutional Investors to step in and buy these names will return only after a strong rise in the stock price. Great opportunites are presented for us when they can only summon up the courage to pay stratospheric multiples for stocks which are en vogue, but the behavior is plainly idiotic and very predicatable.

Regards,

Brian
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