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Technology Stocks : Intel Corporation (INTC)
INTC 43.51+0.1%2:08 PM EST

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To: Barry Grossman who wrote (91869)11/8/1999 7:23:00 AM
From: Road Walker  Read Replies (1) of 186894
 
Barry (cockeyed optimist <g>), re: "I still have confidence that over the long run, equity values will correlate well with their actual earnings and continued earnings prospects - in spite of governmental interference."

A pattern is developing of government & judicial regulation (?) interferance (?) in business. That could have a significant bearing on "continued earnings prospects". Are Intel, or other industries/companies immune from the DOJ, I don't think so. I suspect the DOJ is emboldened by this decision, and it would be human nature for them to look for other targets.

PE on the S&P is 33.40. Year ago it was 29.38. Are the earnings prospects for these 500 companies in aggregate 13.7% better than they were a year ago today? Does an aggressive DOJ and unfriendly judiciary challenge earnings prospects? Maybe.

John
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