S3 (A LONGER TERM PERSPECTIVE) Message Board

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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE)

SIII 0.0001000

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May 12 5:00 PM EST

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To: Thomas Leavitt who wrote (7098)	11/1/1997 6:22:00 PM
From: Bill Lin	Read Replies (1) of 14577

12PE is a backward looking PE. Q4 is around $0.00-$0.10 at best (negative at worst) Q1 '98 and Q2 '98 is the same. Q3 is $0.00-$0.24 (if GX3 gets a ton of design wins). forward looking PE is about 20, as far as i am guessing. but then i am REAL pessimistic. "undergoing expansion out of traditional channels" doesn't make any money right now. Revenues from '96 to '97 growth is around 10%. earnings decline. so, my answer is "no" its not excessive. my argument for a while has been: if S3 is now a value play, then it has to become CHEAP or sell for around 0.5-0.7 times book. right now, there are several "potential" factors holding up the price at $8+, which are Faroudja tech, fab value, and GX3 in silicon. Otherwise, it can trade at 10X forward '98 PE or $3-4. are YOU going to buy the #9 GX2 board? BL

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