I agree with you that this stock looks fantastic value , as does KLIC , TER , AMAT and NVLS .
I have never seen the P/E , P/B, P/Sales and cash flow ratios so low on these semi stocks in the twenty years I have been watching them.
All of these stocks are highly cyclical as you will see from a ten year chart of any one of them I am confident that they will spike upwards due to an order surge sometime between mid 2008 and late 2009 . Why ? Becasue all electronic gadet makers , be it mobile phones , video games or whatever will be preparing their special strategies to catch the wave of human optimism and mini euphoria that will accompany the 2010 new decande milestone . Sure , it will be nothing like the Y2K event , but we no not need that to make 50 % on these depressed stocks still selling at 1997 prices.