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Technology Stocks : Novellus
NVLS 2.400+2.1%Jul 24 5:00 PM EST
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To: HoodBuilder who wrote (3307)3/3/2002 5:37:58 PM
From: LemurHouse  Read Replies (1) of 3813
 
I understand what you're saying about the metrics showing that NVLS is overpriced. But the price is being set not by these metrics, but rather by the market's perception that the fundamentals are changing and that the sector is or will soon be in the upswing of the cycle. Now maybe the market is right, and maybe the market is wrong, but its the desire to be in the stock before the move that is driving the share price today. So yes, the price may be ahead of a reasonable valuation based on metrics such as P/E, PSR and the like. But so what? Does that mean the shares are unreasonably priced? Depends on your opinion of where we are in the cycle.

IMO
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