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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (1075)	8/24/2001 9:11:43 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95596

Gottfried, How can you explain the unexplainable?<gg> The tables show some "funny" things from time to time, but this one "takes the cake". I think this instance highlights a very big problem in investing in tech stocks. There is more emotion involved(at least over the short term market action) in investing than looking at the facts. VECO has been doing very little since the "optical sector" has had so many downgrades. Interestingly, while the earnings estimates for VECO have been reduced recently, the company, as the table shows, has been far and away in the top position in terms of estimated earnings for some time. It is a stock that I watch very closely, however, because one of these days - once the optical sector is declared "fit" again - the stock should really "fly". If you take a look at the table, both VECO and KLAC have estimated long term growth rates of 25 percent. VECO has "nxt yr" estimated earnings of 1.75 and KLAC is estimated at 1.78, essentially the same, yet VECO closed at 34.04 and KLAC closed at 51.57. Why isn't VECO selling at parity to KLAC (come on Gottfried - explain that to me<gg>)? While we are looking in the table, lets look at NVLS - earnings estimate of 1.21 and closed at 50.05 this week. I could go on further, but you get the "picture". Any explanations?<gg> Don