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Technology Stocks : Semi Equipment Analysis
SOXX 302.84+2.0%Dec 2 4:00 PM EST
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To: Return to Sender who wrote (12489)11/12/2003 11:37:18 AM
From: BWAC  Read Replies (1) of 95515
 
Gotta like this part about valuation vs. feeding the momentum junkies. His theory and valuation model suprisingly makes decent sense, but no one will care or listen once the pile in starts.

<9:31AM NVLS: BofA raises estimate, but valuation rich 43.79 +0.49: Banc of America raises their 2004 EPS est well above consensus (to $0.90 from $0.63, vs consensus of $0.71), as they think mgmt will raise guidance on the mid-qtr update at the end of Nov; however, even with the sharp increase in their forecast, firm thinks the stock is expensive since 2004 EPS would need to be about $1.72 to support the current stock price of $43, assuming a fair valuation of 25x their 2004 est; and while firm thinks that the news flow will remain strong for the next several quarters, thus "feeding the momentum junkies", >
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