Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 151.94

+1.1%

3:59 PM EST

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To: Zeev Hed who wrote (10059)	9/20/2001 3:32:13 AM
From: Johnny Canuck	of 10921

Hi Zeev, You timing is interesting. NVLS did a presentation at the SG Cowens tech conference earlier this month and the NVLS management was suggesting that they saw this down turn being a lot longer than usual and that they did not see any sustainable turn around till more killer applications came along. sgcowen.talkpoint.com Message 16376932 On the other hand, they stated that NVLS has historically never traded below a P/E of 15 for very long. They are there now based on trailing numbers (15.88). This does bring up an interesting point though as the industry just went through a revolutionary stage where we saw the deployment of unprecedent new technology in the form of affordable wireless and the internet. If we assume that we are in the slower evolutionary stage does the trailing P/E reflect a distorted metric when using the low P/E of 15 on a historical basis as a bottom? If you assume slower growth prospects going forward into the future (long term) does this not suggest that the sector could fall further? I am just trying to play devil's advocate as I am debating the merits of taking positions soon also. Obvious the management thinks this is the low as they just authorized a $500 mil stock buyback. It will interesting to see how many companies actually follow through with the buy backs as opposed to just using the news to stablize the stock price.

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