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

To: Gottfried who wrote (15386)	5/25/2004 12:06:22 AM
From: Donald Wennerstrom	Respond to of 95611

<<So much for 'looking 6 months out', or so much for trusting earnings projections.>> Exactly - you have summarized the point very well. There is very little, if any, correlation over the short term(6 mos to a year) between earnings projections and stock prices. Since Nov 03 to the present, AMAT(and others) have been going down in price while their earnings projections continue to increase. Let's just take AMAT as an example. The recent high price occurred in early Nov 03, and since then has been on a downward trend. Date Price This Yr Earn Next Yr Earn 11/7/03 25.25 0.13 0.46 5/21/04 18.38 0.85 1.18 No correlation between price and earnings there. Don