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Technology Stocks : Varian Semiconductor Equipment Associates -- VSEA -- Ignore unavailable to you. Want to Upgrade?

To: BMcV who wrote (1112)	10/27/2000 8:17:37 PM
From: Proud_Infidel	Read Replies (2) \| Respond to of 1929

2 more to look at for more perspective, while remembering VSEA made $1.06 for Q4: EMC's estimated EPS for the entire FY ending Dec '01 is $1.02 CSCO's estimated EPS for the entire FY ending July '02 is $.95 H&Q downgraded VSEA because they forecast only 30% revenue and 50% earnings growth, resulting in a forward PE of 6, but upgraded JDSU with a forward PE of 75-100! Makes you wonder what these people are actually getting paid for on WS. If equity analysis simply turns into a game of Buy because there is a good chance others will be buying soon, or Sell because while the company is doing fantastic there is really nobody interested in a cash generating machine at the moment, then there is little reason to do any real company analysis whatsoever. Simply kick back and wait until something makes a big move, and buy into it and hype it regardless of whatever price it is trading at. I am always amazed that the courage of the Institutional Investors to step in and buy these names will return only after a strong rise in the stock price. Great opportunites are presented for us when they can only summon up the courage to pay stratospheric multiples for stocks which are en vogue, but the behavior is plainly idiotic and very predicatable. Regards, Brian

To: BMcV who wrote (1112)	10/27/2000 8:44:03 PM
From: Proud_Infidel	Respond to of 1929

TI's chief calls global chip market strong By Reuters Special to CNET News.com October 27, 2000, 11:50 a.m. PT BOCA RATON, Fla.--Chipmaker Texas Instruments currently sees strong global demand for its semiconductors, regardless of signs that the U.S. economy is slowing. "If you look at the semiconductor market now, the strength is in all regions,'' Thomas Engibous, TI's chief executive said Thursday. "I think in every region of the world--Japan, Asia, Europe and the United States--year-to-date growth is above 30 percent. Japan is 45 percent.'' His speech underscored a number of seemingly schizophrenic trends in the chip industry right now. Semiconductor sales are expected to remain strong through 2001. However, unexpected surpluses in cell phone parts and in the memory market, combined with overoptimistic forecasts, have recently created a temporary downturn in certain markets and regions. Engibous spoke while attending a gathering in Boca Raton, Fla., of the Business Council, a group of top U.S. business leaders. Communications, Internet and bandwidth companies are "the areas that are really driving growth,'' Engibous said. Chip demand remains strong even though start-up Internet companies are struggling. The shake-up among dot-coms hurts Texas Instruments only to the extent that it is a supplier to the Internet server market, Engibous said. "While the large number of dot-coms we read about lack success, the success in some of the others is so strong. If you talk to Sun Microsystems, their business is just booming,'' Engibous said. "That's our biggest link into the dot-com area.'' Likewise, Dallas-based TI isn't directly hurt by the weakness of the euro because the company mostly uses a dollar-based pricing system in Europe, Engibous said. Europe would only affect TI if consumers there "choose not to replace cell phones at that same rate that they have, which we haven't seen,'' Engibous said. "We've also seen new subscriber rates stay at a very, very high growth rate.'' Texas Instruments is expanding in nearly all regions where it operates by investing $2.8 billion this year, he said. The expansion is "mostly in the areas of wafer fabs--and not so much in brick and mortar, but in equipment for buildings that were built a couple of years ago,'' Engibous said.