| "As of yesterday, the Semis were the most overvalued of the Tech sectors" . . I don't see how that can be the case. I think the netwreckers have a higher average P/E than the semis. Most of the traditional semis, such as AMD, IDTI, INTC, ISSI, and semi equipment stocks such as KLAC, AMAT, CMOS, etc. have P/Es well under 20. Most of the telecomm equipment darlings, such as JNPR, CIEN, CSCO, etc. have P/Es well above 30 and despite steep drops in sales and earnings forecasts. If you take out the specialty telecomm semis, such as AMCC from the mix, the semis look far from being the most overvalued sector. How do you add? |
