"Yes, these semi's are going to get crushed as they should with their current PEs and declining growth. May not happen tomorrow but there is no way these lofty valuations will remain. Either the stock corrects or the fundamentals improve."
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punkle...
For anybody that is listening to what the companies are saying, there will be no fundamental improvement any time soon. Would AMAT lay off 1700 workers if they thought things were going to get better?? Would they be shutting down over the holidays?? Predicting a 20% decline in orders for the next quarter on top of a 12% decline this quarter (this is supposed to be the strongest part of the year)? AMAT is the big boy in the equipment area, participating in more segments of the market than any other company - if they are hurting every one else is hurting worse.
Believe me, as I have been saying, things are bad in the chip/equipment sectors and getting worse, not better.
I find it hard to believe where I see AMAT closed in AH trading (haven't been home that long) up some 40% above its lows of 60 days ago. I assume Alan Greenspan will be naming his man to the board of directors soon.
Long live the PPT - your tax dollars at work.
mlsoft
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