The PE's are the current First Call estimates. Hope you aren't confusing the Price-to-Earnings/Growth ratio (PEG) also posted there. Mr. Wennerstrom also tracks the First Call earning estimates over time in tables you will find there. There is also a current interesting discussion on the thread related to fiscal years and their effect on published "this year" and "next year" estimates.
SNO, I think a lot of the easy money has been made. It is well documented there that PE's in chip equips have been lowest at market tops and highest at bottoms. Issue is whether the market has turned. I think it has, CYMI guidance indicates a flattening, want to pick the leaders for next cycle now.
are forward first call numbers. Given the guidance I'm seeing in the first Q and second Q of next year along with revunue growth projections, these numbers will be coming down in my opinion. If there are enough greater fools that buy it then we will be in our second bubble in two years and I think it's a possibility. Many of these stocks are selling at 10 to 15 times sales.
The SOX in my view has already priced in this growth thats unless you believe in perpetual manias which many do.
Where did you get the P/S numbers of 10-15? I did a quick look on Yahoo for the listed companies. The highest I found by far was 8.63 for PHTN, which is riding the flat panel display wave. CYMI, at 2.54, is about in the middle. There were even several with P/S under 1, but those companies are bleeding (WFR, SFAM, TGAL).
You can make an argument for overpriced today, but these certainly aren't at Internet bubble levels.