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Strategies & Market Trends : Electronic Contract Manufacture (ECM) Sector -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (2388)	7/24/2000 9:31:28 PM
From: hm	Respond to of 2542

Herb Greenberg on theStreet.com had some negative - surprise - things to say about ACTM today. Might be worth checking out for DD.

To: Paul Senior who wrote (2388)	7/24/2000 11:48:46 PM
From: G.M. Flinn	Read Replies (1) \| Respond to of 2542

Paul, good luck w/ ACTM. Nothing wrong with moving money around within the sector. This strategy has been very kind to me. I have been moving some SANM, JBL and SLR into SCI and ACTM of late. Probably buy some more ACTM in the next day or so. Sure interested in what scared people off Friday (and a little more today). Guess it will be revealed in the conf. call. also worth checking out, since so many CEMs and OEMs are crying about component shortages, are the component suppliers. KEM knocked the cover off the ball w/ its earnings tonight. I have been accumulating of late. VSH I expect to do the same Thursday. Word of caution: they have been sliding of late on fear of the "disk drive syndrome"... overbuild during an expansion period. I do not think this is happening, especially since the CEMs see no relief till next year (if then). Just check them out and see what you think. Glenn

To: Paul Senior who wrote (2388)	9/1/2000 11:42:51 PM
From: G.M. Flinn	Read Replies (1) \| Respond to of 2542

CEM valuation update as of 9/1/00 ... the following table shows closing price on 9/1/00 and the P/E ratios based on next fiscal year's earnings per research estimates on yahoo. not perfect since fiscal years do not match exactly (but close enough); this comparative has worked very well for me, and hope it has had some value for others when I have posted similar data previously. Stock price P/E of next fiscal year JBL 65 5/8 58.5x PLXS 77 5/8 55.4x SANM 115 11/16 51.2x FLEX 83 1/8 50.0x CLS 81 3/8 48.1x SLR 45 7/8 39.8x SCI 62 3/8 35.2x ACTM 55 1/2 21.8x Much of my success in the CEM sector has been based on moving to the relatively undervalued stocks. SCI and ACTM clearly are undervalued compared to their peers. Given its valuation, ACTM could be acquired for almost twice its current price and still be accretive to any acquirer.