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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: sylvester80 who wrote (35445)3/1/2002 12:20:29 PM
From: t2  Read Replies (2) of 99280
 
syl, Most tech stocks in the Nasdaq are at bubble levels.
My reason is quite simple:

We had a big buildout of the internet infrastructure. Lots of new companies came public and bought lots and lots of equipment in the boom...and they had raised lots of cash in the equity markets.

Now we have the remaining survivors, Yahoo, AOL, Ebay and a few others.
However, the these companies combined will not be enough of a market for all those suppliers..storage, telcommunications, software, PCs etc....even if there is a big pick up in demand from the remaining customers.

However, investors are giving them valuations as if there will be a big Part 2 buildout around the corner. Even if there is, we won't get a whole bunch of new IPOs in technology for a while anyways. Without cash from IPOs, the new companies won't be spending.

btw--still watching Oracle get crushed while the market is down; wonder how long it takes to drag the Naz lower; Software stocks should be coming down if Oracle is not going up.

jmho
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