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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Bookdon who wrote (23480)	11/2/1999 9:25:00 PM
From: Ian@SI	Read Replies (4) \| Respond to of 25960

I'm not sure that the PE answer is that simple. One probably also should factor in: interest rates (inversely proportional); Inflation expectations; Relative PE to an appropriate index, perhaps NDX or SOX which would partially include the first 2 considerations; Industry sector leadership position; Expectations re cyclicality; in addition to the sustainable earnings growth rate. I could see CYMI keeping a PE in excess of 45 with Inflation below 1%; 30 Yr bond below 5.5%; and the S&P 500 getting a PE above 33, for example. First, it will have to establish a credible track record for consistent earnings growth. IMHO, Ian.