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Technology Stocks : NSM - National Semiconductor
NSM 18.270.0%Jul 31 5:00 PM EST

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To: A. Edwards who wrote (144)9/5/2003 11:19:19 AM
From: Paul Senior  Read Replies (1) of 168
 
re: Goldman Sachs' "To date we have been a little conservative on NSM stock with an UNDERPERFORM rating."

I guess I've been wrong in assuming an "underperform" rating means underperforming the market. I'm going to have to check how that word is used in the industry. To GS, it apparently means underperforming peers. (peers as determined by GS).

NSM has outperfomed the stocks GS mentioned in a 3mo, 6mo, and 1 yr. timeframe. Here's a six-month graph:

finance.yahoo.com

Anything can happen anytime with any stocks, imo, so GS could ultimately be right with their opinion and calls, but I had to laugh when they stated "we have been a little conservative on NSM stock".
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At this point, with the stock at over 3x book and 3x sales, NSM does seem a little pricey to me. I've not sold any shares though...yet.

Paul Senior
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