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Technology Stocks : Vitesse Semiconductor

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To: The Ox who wrote (1779)	10/5/1998 3:02:00 PM
From: Beltropolis Boy	Read Replies (1) of 4710

First, there is no way you can compare VTSS to the oil patch. michael. you make some solid points. damoclean swords aside, unless we have an earnings warning on the horizon, i too believe that this slide presents an excellent buying opportunity. in the first three quarters of this year alone, VTSS surpassed all of last year's earnings: $.48 vs $.44. with an estimate of $.20 for the fourth quarter, which seems reasonable given the earnings growth over the past three quarters and steady $.02 sequential increases, that's a 26 forward P/E. on 55% earnings growth! let's not forget an excellent balance sheet with no debt and a "fabulous" book-to-bill as you note, growing capacity, that bandwidth demand, and those phat 30% net profit margins. i won't deny the potential for more downside and a few points to the shorters especially in this choppy market. but i can hardly imagine one not seeing significant growth and stock appreciation in VTSS over the next several years. -chris.

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