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Technology Stocks : Semi Equipment Analysis

SOXX 309.36

+2.2%

Dec 3 4:00 PM EST

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To: Pink Minion who wrote (7126)	11/26/2002 12:03:59 PM
From: zonder	Read Replies (1) of 95521

I see that NVLS has less than 2% profit margin in the most recent quarter, and that profit is all some tax rebate, because profit before tax is a loss of USD 180,000. In fact, its profitability seems to be going downhill, from 8.5% in 4Q01, down to 5% in 2Q02, and pretax loss in the last quarter. Yes, it means something to be the market leader in technology, but that something is not triple-digit P/E. In fact, this argument makes me think of BRCD which we shorted last year at around this time when it was trading at 164x P/E despite common knowledge that businesses had shelved IT investments for at least another six months. I did not regret that short.

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