Semiconductor stocks hit all-time highs in March of 2000. They have been in a vicious bear market and lagged badly as the S and P 500 made new highs in 2007. I don't know whether or not the absolute bottom is in, but with this index returning to the lows of 1998, I think we are in an area of value. Technology stocks as a whole meet this criteria in my humble opinion. I trade in and out of this group but I am also building a position to hold for a longer time period. Stocks to consider might be INTC,NSM,XLNX,ALTR,NVDA,AMAT from this space. From the broader spectrum a stock like CSCO would also be a candidate.
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