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Technology Stocks : Vitesse Semiconductor
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To: Robert G. Harrell who wrote (719)7/14/1997 2:27:00 AM
From: Bruce R. Schlake   of 4710
 
Bob, I also own wdc and apm as well in that sector. Seems like a gimme. To me buying is the easy part, selling a winner is a real tough choice.

As far as this winner is concerned, if you take vtss current growth rate (60%) x the future estimates you get a stock in the 60's at the end of '98. That's over a 60% return from here which certainly isn't peanuts. Saying it is wildly overvalued is not reasonable. As Dan has pointed out, using the analyst's future growth rate (35%) and the current estimates the stock seems fully valued and of course a pullback could occur at any time and it probably will.

But is this the top for this stock, I don't think so, it is just the beginning. I sleep less by worrying about market timing than I do keeping a company that is growing this fast with this potential. Good luck.

Bruce
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