Varian Semiconductor Equipment Associates -- VSEA Message Board

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Technology Stocks : Varian Semiconductor Equipment Associates -- VSEA

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To: Sun Tzu who wrote (1448)	9/19/2001 2:54:13 PM
From: Proud_Infidel	of 1929

The PSR for the industry is higher than it has been in the past; that is what worries me. AMAT's PSR of 3.5 is far from its trough in '96 of 1. VSEA is looks cheap on a PSR basis of about 1.5 but we have nothing to compare it with since they are a recently spun-off company. I believe VSEA would have been the first to benefit from any capacity expansion- that is now out the window. Overall, the industry is really not a despair valuations of the past. But this higher valuation was predicated upon an assumption that this sector would be the first to come back. Not a bad assumption; it just may need to be pushed out a little farther. One thing of beauty in a week of despair....a vix spike quote.yahoo.com^VIX&d=d Regards, Brian

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