Zeev's Turnips Patch-No Politics (ZEEV)

[langostino]

Zeev - sorry

I see my note was in "reply" to your post -- but it wasn't intended to be directed at you. I guess my frustration happened to reach the "gotta respond to this stuff" level by the time I reached your post and so ... (g)

Well, anyway, it's difficult to tell what appreciation potential Kurlak thinks the higher margin semi producers have from here b/c he hasn't commented in any of the pieces I've read recently. From his overall tone, I suspect he's probably right in line with your own thinking about where the top of the cycle will take stocks like INTC, so certainly not overly bullish -- maybe another 35% to 45%.

In fact, the implication in these pieces was that he was really sifting through the semis generally in search of something with better appreciation potential -- and less downside if it turns out this cycle isn't as robust as we though, because more of the 2H run has been on the back of inventory build.