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To: Doug Skrypek who wrote (1350)	1/27/1998 4:06:00 PM
From: Math Junkie	Read Replies (1) \| Respond to of 3813

You're right to worry, but 1998 estimates would have to go a lot lower, not just nickel and dime stuff, to justify a significantly lower stock price, especially when you consider that the PE of the S&P 500 is around 21, with a much lower long term growth rate. Asia is not going to disappear entirely. Applied Materials was quoted on Reuters today as saying that there would be delays on the part of Korean chipmakers, but that the Taiwan foundry business was still strong. Also, I have read that Korean companies are selling off other businesses in order to stay in the semiconductor business. The current slump is not likely to be as bad as the 1995-96 one, because that slump was world wide, whereas this one is just in one region. In My Humble Opinion, of course.