Novellus Message Board - Msg: 7943457

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Math Junkie who wrote (1905)	2/21/1999 1:35:00 AM
From: EACarl	Read Replies (1) of 3813

Agree with you about current P/E's. Current P/E's are totally meaningless at this point. The "E" part of the equation is based on the down-cycle disaster we are just concluding. ALL the stocks in this sector are trading based on earnings potential in 2000-2001. So if your going to use P/E use a "E" of expected 2000-2001 earnings, and discount back to a fair present value of the stock. Price to sales , and/or price to last peak cycle earnings are much better valuation tools. I also agree that KLIC and LRCX look good at this level. Also in the same line of thought, check out COHU and SFAM.

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