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Technology Stocks : Western Digital (WDC) -- Ignore unavailable to you. Want to Upgrade?

To: Zakrosian who wrote (7826)	11/24/1997 1:29:00 AM
From: Pierre-X	Respond to of 11057

Re: Multiples . The point I was making with the MU example is that cycles in multiples tend to overshoot cycles in underlying earnings. This is how PEG investors manage to do okay in the long run. . The recent runup in MU is something that I'll be the first to admit I don't understand. Although I don't track the DRAM sector very closely, I'm not aware of any fundamental changes occuring there. The sector is still struggling with overcapacity and many players are losing money while looking for ways to repurpose their DRAM fabs. . Without more research, off the cuff I'd say it was a speculative bubble. . I avoid DRAM which is even more of a commodity industry than HDD. PX