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Technology Stocks : KLA-Tencor Corporation (KLAC) -- Ignore unavailable to you. Want to Upgrade?

To: JOHN N. who wrote (1526)	10/16/2000 10:44:45 AM
From: olduvai5	Read Replies (1) \| Respond to of 1779

Doesn't it seem that P/E's are going back to historic levels of 15-20 for growth companies? If so, KLAC is fairly priced, as are a number of other semi equipment companies. I think there is a lot of concern that earnings estimates for 2001 are overblown and plans for expansion can be quickly canceled or pushed out (remember 1998?). Also, the high growth rates of this year are unsustainable long term. Margins seem to be eroding all over the place as everyone struggles with too rapid growth. Certainly, if you look at service operations in all these companies, expenses are way up and people are stretched way too thin. JMHO... olduvai5