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Politics : Formerly About Advanced Micro Devices
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To: Elroy who wrote (374972)3/25/2008 7:23:40 PM
From: tejek   of 1575984
 
I think it all depends on earnings this next quarter. The word is earnings contraction will be the rule. Have to wait and see if that's true.

10 year interest rates are only 3.5%? What can a good credit quality borrower get for a 30 year mortgage these days?

I didn't realize the long term rates had declined so much. I was wondering why we've gotten significant rates cuts, but at the same time PE multiple contraction rather than expansion, and the normal answer is that long term rates hadn't fallen much, but it appears they have. Tech PEs for a bunch of growth stocks were around 25x-30x in '02-'04 when rates were low, it wound be nice if they head up there again. You can get CSCO for 16x and CTSH for 18x at the moment, quite reasonable valuation for blue chip growth.
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