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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: hcm1943 who wrote (3608)	7/9/1998 9:15:00 AM
From: Zeev Hed	Respond to of 4697

hcm, the reason WFR has increased its Asian capacity is to have a similar cost structure to its competitors and to supply the growing local markets. I do not think that the nature of the ownership is important, only the local costs and these are similar for WFR and its competitors. As for book value, you would be right if WFR was on the verge of bankruptcy or something like that, but as an ongoing entity, you should look at "replacement value" not depreciated book value and that is far north of the current $15 or (assuming another two lossy quarters). Zeev