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Technology Stocks : Semi Equipment Analysis

SOXX 309.36

+2.2%

Dec 3 4:00 PM EST

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To: Kirk © who wrote (1129)	9/10/2001 12:55:37 PM
From: Return to Sender	Read Replies (3) of 95520

Now this may be not be 100% factual but according to information I heard last Friday in past price bottoms (on a cyclical basis) Semiconductor Capital Equipment stocks have sold on an average basis of 2 1/2 times book value. At this time most stocks in the group are twice that amount according to my source on CNN.... Lou Dobbs. So I think what Don is trying to say with his recent tables is that based on P/E's or any other relative valuation to past cycle bottoms semiconductors stocks are for the most part overvalued on a relative basis. Have we seen the bottom? If so stocks have held up remarkably well based on expectations for a sharp upturn in orders. If that does not happen then we may not have seen the bottom at all. Now don't get me wrong.... I am long on the market but lets get real we don't know yet if we have seen the bottom or not. Still on a comparative basis this is an industry that has a lot more going for it than most throughout technology. None of the other industries can grow without it! RtS

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