On Friday, 9/5, the SOX closed at 459.82. On Monday, 9/8, the market had a very good day and the SOX closed at 472.90. Since that day, the SOX has been "meandering" around the 470 to 420 area - most recently making a comeback over the past 8 trading days to close at 467.22 on Friday, just a little over 5 points away from where it closed on Monday, 9/8.
It is rather interesting to look at the winners and losers in the SOX over this period of time. The table below shows this information.
- 9/8/03 10/10/03 FST CALL NEXT FST CALL
- CLOSE CLOSE PERCENT NXT YR YEAR LNG TRM
SYMBOL PRICE PRICE CHANGE EARN PE GROWTH PEG
MOT 11.28 13.79 22 0.40 34 10 3.45
NSM 33.58 38.25 14 1.42 27 15 1.80
BRCM 28.09 31.37 12 0.64 49 30 1.63
AMD 12.45 13.24 6 -0.24 15
INTC 29.18 30.43 4 1.05 29 15 1.93
MXIM 43.75 44.82 2 1.39 32 25 1.29
LLTC 40.34 40.77 1 1.08 38 22 1.72
STM 27.15 27.15 0 0.82 33 18 1.84
KLAC* 58.69 58.60 0 1.86 32 21 1.50
TXN 26.03 25.48 -2 0.67 38 20 1.90
XLNX 32.29 30.68 -5 0.88 35 20 1.74
AMAT* 22.22 20.75 -7 0.46 45 20 2.22
TER* 20.97 19.16 -9 0.45 43 19 2.24
TSM 12.92 11.74 -9 0.49 24 25 0.96
NVLS* 40.38 36.47 -10 0.68 54 21 2.52
MU 15.13 12.78 -16 0.86 15 18 0.83
LSI 11.60 9.33 -20 0.26 36 18 1.99
ALTR 23.11 18.57 -20 0.48 39 23 1.72
TOTALS 489.16 483.38 -1 13.65
SOX-X 472.90 467.22 -1
COMPQX1888.62 1915.31 1
The SOX is down 1 percent over this period, while the NASDAQ is up 1 percent.
The spread of performance runs from MOT with a 22 percent gain while LSI and ALTR reside on the bottom with 20 percent losses. This makes for a lot of divergence in the SOX over this time period. All 4 of the semi-equips in the list, KLAC, AMAT, TER and NVLS, are in the bottom part of the table with percentages of 0, -7, -9, and -10 respectively.
As usual, PE's, Growth Rates, and PEG's have very little, if anything, to do with short term performance. MOT with a 22 percent gain has the highest PEG in the table at 3.45. MU with the lowest PEG in the table of 0.83 lost 16 percent over the same period.
It should be a very interesting week to see where the market and the SOX wind up with all the earnings reports coming out this week. Five of the SOX stocks, INTC, LLTC, MOT, NVLS, and TER report after the close on Tuesday, 10/14. Three more, AMD, BRCM, and XLNX are scheduled for release after the close on Thursday. Those 8 reports in total should be enough to stir things up for the SOX this week.
Don |
