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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 167.99+1.7%12:58 PM EST

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To: marginmike who wrote (36261)7/21/1999 4:23:00 AM
From: KyrosL  Read Replies (1) of 152472
 
This stock should be priced at its growth rate about 40-50 PE.

I don't think this old rule of thumb holds anymore. Stock valuations are highly dependent on long term interest rates. So in a relatively low interest rate environment you must multiply the growth rate by some factor greater than one (I don't know what).
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