Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 312.76

+1.1%

Dec 8 4:00 PM EST

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To: Return to Sender who wrote (3595)	6/22/2002 6:13:50 AM
From: scott_jiminez	Read Replies (1) of 95536

RtS - I continue to form my opinions regarding valuation in this sector based on the price/sales ratio. This gauge seems less open to manipulation and interpretation than others and it seems to be quite generally accepted as an accurate measure of relative valuation within the group and between various historical periods for the sector as whole. I posted this a couple days - or about +10% - ago Message 17609561 Assuming the group average for p/s is now about 3.00, the semi-equipment sector remains substantially over-valued. And with the largest-cap stocks in the group still stratospherically valued (while the main driver of IC revenue - PC sales - is projected to be in the dumps for the foreseeable future i.e. yesterdays downgrades for MU), the odds favor continued weakness in these stocks for quite some time. As I said in that linked post, the equipment sector should probably be rated 'avoid' for the next 6-9 months. Scott Message 17637826

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