### Comment:
companies that make money don't go up, companies that WILL make money do. Particularly those that raise guidance. Will future economic conditions spur long-term growth for AMAT and WDC in ways better than which we expect? Given the current rosy economic conditions and sentiment, I have a hard time envisioning that. But that's just me.

### REPLY:
I have a much harder time envisioning any economic growth that doesn't include semiconductors making large gains. As for individual companies such as WDC they don't even have to grow at all. As long as their profits don't sink massively the market is just way off-base on its valuation. It's practically priced for a likely extinction event.

### END.