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Technology Stocks : Intel Corporation (INTC)
INTC 35.53-1.1%Nov 14 3:59 PM EST
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To: Amy J who wrote (93629)12/9/1999 8:05:00 PM
From: Saturn V  Read Replies (1) of 186894
 
Hi Amy,

Thanks for an excellent summary of the present internet mindset.

The only thing which escapes me is the million dollar question " How do you value such a company ? ".

I have not found anything which answers this question. I would appreciate if you can point me to anything in this area.

It seems that the only question being asked is how big is the potential world wide market for an internet product or service, and implicitly assume that the company will hit 100% of that market in four years. That is if any attempt at valuation is being made at all. Mostly the companies going public are raking it in, and investors are panicking and throwing money at any internut company. No wonder the thinking is "Money is free". I really see an investor panic. The only logic I see is the "bigger fool theory".

It sure smells like Tulipmania. And I hope that I am wrong. I wish that the same logic is applied to Intel Itanium and the internet businesses. As we know these businesses are not projected to have significant profit next year, and are thus adding zilch to todays Intel stock price. I am sure that the market will adjust for this in due time, but when the Internut bubble finally corrects, what will be the impact on the rest of the stock market and the economy ?
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