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Technology Stocks : Dupont Photomasks (DPMI) -- Ignore unavailable to you. Want to Upgrade?

To: jeffbas who wrote (139)	2/17/1998 5:40:00 PM
From: Paul Viapiano	Read Replies (1) \| Respond to of 955

Rather than go round and round with this whole discussion, why not just take the PEs of PLAB and DPMI, average them, and use that as your multiple. It's as good a method as any....unless you're willing to hold these stocks for 3-5 years. Paul

To: jeffbas who wrote (139)	2/17/1998 6:08:00 PM
From: shane forbes	Read Replies (2) \| Respond to of 955

Agreed. Having said that let me just add that P/Es are not the be-all-and-end-all for cyclical companies be they growth or no-growth. What drives these companies' growth is product introductions and the cycles they naturally represent. These cycles based on the underlying industry's fundamentals and things such as over-capacity, demand and ASPs (oveall industry growth rate is relevant here) will drive sales which in turn will eventually be reflected in the stock price.

To: jeffbas who wrote (139)	2/20/1998 10:52:00 PM
From: Duane L. Olson	Read Replies (1) \| Respond to of 955

Jeffrey, come on now... As the chip industry moves on, the mask requirements become more and more complex..and thus more masks are needed...Mask requirements are some factor more than 1 ABOVE the semiconductor growth rate. And for all those who keep referring to the Mask sector as a Cyclical Growth sector...I say whoa...not so fast... Masks aren't nearly so cyclical as the chips themselves... While the chips are going through the cycles, causing much financial roller-coasting, masks are still needed at fairly steady, and increasing rates... So, IMHO, ...and that is OPINION...DPMI is NOT a cyclical growth company comparable to the semi's... And those that have other OPINIONs...make sure you know it is an OPINION...not written in rock FACT...thank you very much... OK... back to business... Duane