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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: J L Segal who wrote (11269)	6/19/1998 11:18:00 AM
From: Phil Fischer	Read Replies (2) \| Respond to of 14577

" I am new to this thread and am" If you are responding to Tom Terf it is not necessary to tell us you are new to this thread.:) Phil

To: J L Segal who wrote (11269)	6/19/1998 11:29:00 AM
From: R Stevens	Read Replies (1) \| Respond to of 14577

They also own an equity position in a Taiwanese semiconductor co. As I understand it, this position is listed on the balance sheet at the price paid. The reality is it is worth much more. When it goes public in Taiwan, S3 will realize a huge gain. Thus the following graph of TSMC's recent upturn is very relevant. As the values of Taiwanese fab's go back up, S3's book value goes up also. I was reading the book, "The Whiz Kid Of Wall Street" about Matt Seto. A young value investor who is supposed to be the next W.Buffett, yeah right. Anyway I found this quote on book value interesting...he talks about finding companies below book value, then he makes a case for an unusual situation that occasionally occurs when a company's assets are understated: For an investor, it's the best of all worlds to buy a company whose book value is higher than its stock price but below its true breakup value, which is what you'd get if you sold all the company's assets separately. Here is the graph of TSMC cbs.marketwatch.com Finally, here is an article about a potential merger with UMC and TSMC. I believe UMC is the co owner with S3 of the subsidiary fab. A merger could make these companies even more competitive on a global basis: pubs.cmpnet.com (any comments or corrections on this information are welcome) Most important for S3's stock price growth will of course be the success of Savage3D and the new embedded DRAM notebook chips(due out around year end). Still, it is very nice to have this kind of an asset cushion. As my friend said, "It is the ultimate value play." Good Luck, RS

To: J L Segal who wrote (11269)	6/19/1998 11:30:00 AM
From: Calvin Scott	Read Replies (3) \| Respond to of 14577

Mr. Segal. First, I might just say that S3 could go below 5 today. But, today, tomorrow, yesterday....what does that have to do with the reason (and name of this thread) to invest or not. Look at the fundamentals and go from there. In my view, we are more than undervalued at the moment and the moment will last for a few months. Tom, if you are out there, thanks for the input regarding the price. I hope you started shorting this when it hit the mid 8's recently and I hope you didn't get into this last year when it was in the teens. Calvin Scott