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Technology Stocks : Semi Equipment Analysis

SOXX 296.74

+1.8%

Nov 28 4:00 PM EST

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To: Return to Sender who wrote (15548)	6/3/2004 6:46:46 PM
From: The Ox	Read Replies (4) of 95487

The down trend of today reminds me of many of the semi stocks in the summer of 1998. Almost every fundamental metric was showing improvement but the stocks kept getting sold off. Now we are not seeing the extreme prices we saw in 1998 but we are seeing a similar response to improving news. I'm not questioning the reality of the down trend, I'm questioning the reasoning behind the down trend? Maybe you believe the analysis that says the SCE market will crap out in 2005 but I don't. When the SOX hit 433 the other day, it had retraced over 40% of the gain from March 03 low. Not only that, it was only 10% higher then where it was in December of 2002! Think about that for a moment. Now take a second and consider where the SCE companies were at the end of 2002 and where they are today. How can the collective stock prices be only 10% higher then where they were in December 2002?!? With respect to INTC, they have grown their business in the worst possible environment (CY02+CY03). They have improved margins and substantially increased sales. They probably deserve 3 or 4 times the "normal" PE for a company with their growth statistics because of their ability to perform and improve during the most difficult environment ever to hit the semi industry! I believe there are some serious games being played at a very high level with this industry. The negativity by SSB and CSFB is a total joke, in my book. Sure they affect the market with their calls but I don't have to agree with them! I think the lack of respect being shown by the investment community and the general public to some of America's finest companies borders on the insane, if not criminal. The innovations these companies have provided the world have drastically improved the conditions for every human on this planet. The pompous analysts who nit pik even the most stellar earnings report need to take a few moments to look around their offices, their homes and their lives and see what these companies have been doing(building and improving the world), while they, the analysts, seem to be caught up in the tearing down even the most solid institution. All to make a name for their company or themselves. Or to sell a few more shares of their worthless "stock picks of the week". Hey grandma, get out of INTC or AMAT and buy "Piece-o-crap".com! It's the best thing since sliced bread...

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