Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 309.40

+1.0%

Dec 5 4:00 PM EST

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To: The Ox who wrote (6425)	10/23/2002 10:54:41 PM
From: Sarmad Y. Hermiz	Read Replies (1) of 95530

>> Have we hit a bottom in this sector? (stock price wise, not necessarily orders/billings wise) Maybe we're seeing the expression of hope that earnings will improve next Q, even if bookings and billings do not. As long as there are profits, even if small, balance sheets will improve. Profits also guarantee that the profitable companies will survive this downturn, and strongly prosper when the up turn comes. It seems like anyone can understand that. But I think sometimes speculators overlook that fact. Especially the ones with a proclivity to short. Stocks dropped before earnings season started because nervous share holders feared their companies finances would have deteriorated - jeopardizing survival. Once that doubt is removed, investors will be very tolerant of high P/E's and the various other valuation ratios. So to answer the question. Yes we've hit bottom - unless the next Q reports show deterioration. If January reports show higher profits - as I expect, due to cost cutting and no double dip -, then euphoria will reign again.

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