Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 173.96

+1.4%

Nov 11 3:59 PM EST

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To: rrufff who wrote (103391)	8/30/2001 12:47:49 AM
From: pcstel	Read Replies (1) of 152472

These arguments used to justify a price based on future p/e's and p/s's are no longer valid in this market. It's interesting that people claim that some equities are still highly overvalued based on historical P/E Ratios.. Yet, The basis of these "Historical P/E Ratios" is based on "Actual Earnings".. aka GAAP Accounting.. That the real number reported to the SEC.. (Although some people somehow have fooled themselves into believeing that Pro Forma earnings are GAAP earnings).. Now.. If you compare todays equity valuations and P/E ratios (which are based on Pro Forma (The Story Tellers Version)) versus GAAP P/E Ratios.. You will find that many, many companies have a higher valuation than they had in December of 1999. And astronomically higher than "historical "GAAP" based P/E Ratios. PCSTEL

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