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Strategies & Market Trends : Electronic Contract Manufacture (ECM) Sector
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To: kolo55 who wrote (996)12/19/1997 12:18:00 PM
From: rich evans  Read Replies (2) of 2542
 
Paul and Rest: Musings on a witching day. For the life of me I can't understand these ECM valuations. How can a stock like PLXS lose 44% of its valuation in one day when it says that its sales this quarter will be 11% higher year to year with earnings year to year up to 20% higher? It did not do an ACTM where sales and margins went to H. Margins etc were fine. They didn"t even stumble. So if they do the 1.40 next year the stock is at a 10P.E. with .52PSR with management saying they see 20-25% continued growth and analysts saying management is conservative. I think shakespeare said "we shuld shoot all the lawyers. Maybe if he lived today he would include analysts. But forget PLXS, look at the whole sector. HDCO at 10 times earnings for 98 i.e.Even the industry seems cheap.Photomasks companies which are dependent on design demand not fab demand are all at these same prices. CCIR at 9P.E. amd .65PSR. It would seem these stocks are all cheap. The short term attitudes and volatility and CNBC infomania of "this and that " ala shakespeare again "full of sound and fury signifying nothing" is getting to me I guess. Anyway stepping back, I think any reasonably optimistic outlook for the future makes today and these stocks almost all great buys. Everytime the wind changes, panic when all you have to do is reset your sails and alter course a little.

Rich
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