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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.19

-0.1%

Jan 16 9:30 AM EST

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To: GVTucker who wrote (58261)	3/6/2002 2:22:23 PM
From: Stock Farmer	Read Replies (2) of 77400

Tom's not alone in the view. Even if we take the "E" in tech stocks for granted and compute "P/E" ratios, really we are seeing fantastic multiples with little or no room for sustained upside price appreciation. It's either a supply/demand imbalance (again/still) or rate at which the market is discounting the uncertainty of future shocks is very very low. Or both. Either of which is very dangerous for the long term investor and a bounty for the short term flipper. Sure is a lot of optimism. I hope (optimisticly) that it's well founded, or there will be more of a price to pay. 30% from here (e.g. 1200-1300)would still have NASD on the high side of norms for 10 year price appreciation. Just to put things in perspective. John

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