Stefan, you probably won't like this, but Semi-Eq. stocks still look
cheap compared to other tech stocks.
Avg. Price Avg. Price
to Book to Sales
Computer (IBM,DELL,HWP,SUNW,CPQ) 15,84 3,42
DataStorageDev (EMC,SEG,NTAP,QNTM,STK) 10,36 6,64
NetworkDev (CSCO, ASND, COMS, NN, FORE) 9,26 8,70
Semi(INTC,TXN,STM,MU,LLTC) 6,53 7,90
Semi-Eq (AMAT,KLAC,TER,NVLS,LRCX) 4,21 4,22
(Five largest stocks for each segment by market cap.
Data from Yahoo as of today)
Bottom line: There's room to the upside for the semi eq. stocks
from a valuation point of view.
Semi order numbers and anecdotal evidence (Samsung, STM, TSMC)
indicate strong business ahead.
Interest rates may spoil the party sooner or later, but that's
a risk not specific to AMAT or the semi eq's. |
