Dr. Yardeni's Predictions...
smartmoney.investing.lycos.com
>>>· "The Internet was the 'killer application' that drove the final stage of the High-Tech Revolution during the 1990s," Yardeni says. "It boosted PC, server and software sales. I believe that wireless technologies are likely to do the same during Tech II, the second stage of the revolution in the present decade. It will boost the sales of all wireless appliances (including PCs), systems and software." (Deutsche Banc Alex. Brown Research, Nov. 27)
· "Clearly, I believe that the technology revolution is alive and well, despite this year's tech wreck in stock markets around the world," Yardeni says.
"I think the industry will continue to be the fastest growing in the world and a major source of productivity gains. This is why I expect that, in the United States, real GDP will grow 4% per year, on average, with productivity growing 2.5% per year, on average, during the present decade — both at least a percentage point better than the historical norm." (Deutsche Banc Alex. Brown Research, Nov. 27)
· "[The market] may continue to move sideways through the middle of next year when year-over-year earnings comparisons will be easier," Yardeni says.
"By late 2001, the market should be moving into record territory again led by technology, along with health-care and financial stocks.
Stock prices during the current decade should be driven mostly by earnings growth, which I expect will be 8% to 10% per year, on average. I doubt that price-to-earnings valuation multiples will rise much if at all through 2010.
They almost certainly won't double as they did during the 1990s." (Deutsche Banc Alex. Brown Research, Nov. 27)<<< |
