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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (8565)	9/14/2000 11:21:42 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 10921

Ian, at its peak of $105, AMAT has a market cap of $100 B, I for one do not see the whole cap-ex of the semi reaching that value in this cycle (you would have to assume chip shipments in the $500 B annually to accept such a number). If we get a bear market (and not necessarily a recession), current market valuations metrics will be decimated, to as low as a PSR of 1. That will, of course be a very strong "undervaluation" of these stocks, but that is exactly what bear markets do. Zeev