There's a lot more value in the technology sector than there was just two months ago. Marc Klee, who with partner Barry Gordon has run John Hancock Global Technology fund (800-257-3336) since 1983 (making him a veteran in the sector), identifies some depressed but attractive tech stocks.

* Applied Science & Technology (symbol ASTX, Nasdaq, recent price $25). Applied Science makes components and subsystems that are incorporated in semiconductor-manufacturing equipment produced by companies such as Applied Materials (the firm's largest customer) and Lam Research. "Business for semiconductor-manufacturing equipment is robust, and as Applied Materials' business moves up, it comes right back to Applied Science," says Klee. With the stock off from a 52-week high of $45, it sells at about 19 times consensus calendar 2000 earnings estimates of $1.30 per share. Earnings should grow 25% to 30% a year over the next three to five years, says Klee.