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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Justa Werkenstiff who wrote (59728)5/1/2002 12:17:30 PM
From: orkrious  Read Replies (1) of 99280
 
Does a weak dollar help US semi equips short term?



I am not 100% certain, but I think that most of the semi equips hedge their currency exposure. I remember listening to CYMI's CC and they are hedged. I believe AMAT is too. net net it's a wash.

There aren't many companies that are going to benefit from a weaker dollar. Obviously, multi-nationals that report in dollars and have the majority of their sales overseas but manufacture here will be big beneficiaries.

But overall this is a huge negative for stocks. the combination of overvalued stocks and foreign investors repatriating their money is going to keep this market down for some time.

the semis and the equips sell at huge P/S for cyclical companies and they are priced at peak multiples at a cyclical trough. they are in deep sh*t.
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