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Technology Stocks : ATI Technologies in 1997 (T.ATY)
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To: AreWeThereYet who wrote (598)4/12/1998 7:54:00 PM
From: Richard Lam  Read Replies (2) of 5927
 
Two things to note: ATY has about $100 mlln in cash as of 2Q/98, outspends everyone in terms of R&D, on an absolute leve, is more profitable than most of its competitors and achieving greater sales except for Matrox. In addition, average 98 consensus estimate is around $2.90-$3.00 a share. Given its superior profitabilty, market position, and top level growth, its definitely NOT overvalued. If ATY was listed on Nasdaq, it would definitely get a MUCH MUCH richer vlauation than simply 25x forward estimates. Furthermore, if the margin erosion management keeps hinting at doesn't arise in the latter half of the year, analysts will be revising estimates upward again. If some US momentum investors jump on board (we already have Derek Webb and Brendan Kyne on on board), the stock price may accelerate,but that's a potential kicker.
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