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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Ron Dior who wrote (53106)4/18/2002 4:53:29 PM
From: Steve Lee   of 99280
 
Re: "Funny how you people say earnings numbers are a sham only when they support your investment strategies. MSFT’s miss is no more than an accounting smoke screen. Everyone knows that earnings are at a bottom"

Ron, what are you talking about?!?!?!

Only two days ago I posted this "With earnings for companies often either negative or just a few pennies per share, it can be useful to look at Price:Sales ratios as well as Price:Earnings"

Then I went on to look at the price:sales ratios and the growth rates for the top 20 NDX stocks. Here is what I found (data is now a day or so old):


Ticker   Price    PE      PS      E-Gro  S-Gro  A-Gro

MSFT     57.81    29.2     9.9     6%    15%     8%
INTC     29.51    39.9     6.7    42%    11%    18%
CSCO     15.58    37.1     5.3    75%    16%    25%
QCOM     39.62    38.5    10.0    20%    15%    25%
ORCL     12.06    27.4     6.6     2%     0%    20%
AMGN     57.75    39.3    11.2    20%    28%    18%
DELL     27.21    35.3     2.1    18%    10%    15%
MXIM     56.80    59.8    15.1    20%    15%    25%
IMNX     29.45    95.0    11.7     7%    33%    37%
AMAT     27.08    72.2     7.9    36%    20%    22%

LLTC     43.88    58.5    22.6     9%     8%    25%
XLNX     42.56    83.5    11.9    76%    21%    25%
SEBL     28.31    45.7     3.9    32%    14%    30%
CEFT     33.72    40.6     7.6    32%    27%    30%
VRTS     36.86    50.5     8.5    18%    21%    32% *** see note for VRTS
CMCSK    30.08    54.7     2.5   155%    15%    14%
KLAC     68.25    60.4     8.1   -25%   - 8%    25%  
PAYX     41.36    51.1    14.7    11%    12%    20%
PSFT     23.96    32.4     3.4    21%     7%    23%
CHIR     46.03    36.5     6.4    27%    18%    20%

PE    = Price:Earnings ratio at end of 1st calendar quarter 2003
PS    = Price:Sales ratio at end of 1st calendar quarter 2003
E-Gro = Earnings growth for yr ended 1st calendar quarter 2003 compared to prior yr
S-Gro = Sales growth for yr ended 1st calendar quarter 2003 compared to prior yr
A-Gro = Concensus analyst estimate for 5 yr earnings growth rate



Look at the P:S ratios and the growth rates. Choose the highest of the three growth rates listed if you like. This market is on crack.

I update this kind of data frequently on the "Nasdaq 100 Analysis" thread if you are interested in real fundamentals instead of blind bullishness<g>

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