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Pastimes : Ask Mohan about the Market

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To: x70sxn who wrote (12261)	12/24/1997 7:46:00 AM
From: Cynic 2005	Read Replies (1) of 18056

Shrini, thanks for the heads-up on LRCX. I am aware of the bull-case for LRCX which, obviously, doesn't cut with me. Based on per share data (P/B, P/S) the stock doesn't look that expensive - agreed. However, it is a cyclical tech stock and a lot of their customers are hurting. IMF or not, their customers will not be able to spend at the same pace they did in the last few years. JMO. BTW, compare LRCX per share data to that of WFR and let me know what your think. In fact, WFR is trading ~18% below its book value and about 0.6 times sales. The bottom line is that their bottom line is in the red which is where LRCX is headed in a short-order. Perhaps onething that is working in LRCX favor is the relatively low float, a factor I souldn't have ignored. -Mohan

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