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Politics : Formerly About Applied Materials
AMAT 235.24+4.5%Nov 19 3:59 PM EST
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To: Proud_Infidel who wrote (28731)3/2/1999 6:39:00 PM
From: Michael Bakunin  Read Replies (1) of 70976
 
Of course, there is the charming possibility that your estimation of the PC/tech cycle is wrong. Cyclicals in the depth of a trough do trade at very high PE's -- but cyclicals at the crest of the cycle trade at single-digit PE's. I find little evidence of anything but a slowdown in recent reports by such stalwarts as COMS, MUEI, CPQ, DELL, et al. FD: I am the happy owner of a small put position on AMAT. Thus, I'm happy to entertain any evidence you have for future growth -- especially on a scale to make our hero 'woefully undervalued'.
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