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Technology Stocks : Semi Equipment Analysis
SOXX 312.18-0.2%4:00 PM EST

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To: James Calladine who started this subject3/18/2002 12:37:31 AM
From: Sun Tzu  Read Replies (1) of 95536
 
Somewhat OT -- I was looking at Index PE for various indicies and noticed that on average the earnings has to rise about 50% for the PE to equal that of a year ago. I wonder if this means the rise in stock prices will be slower than most people expect. BTW, I did not find any numbers for SOX. Being highly cyclical, PS should be a better measure for SOX than PE. So if anyone has (or can put together) a chart of SOX's PS, it may be helpful.

OK here is the table I was talking about:

Indexes' P/Es & Yields
DJ latest 52-week earnings and dividends adjusted by Dow Divisors at Friday's close. S&P Sept. 4-quarter's operating earnings and indicated dividends based on Friday close. S&P 500 P/E ratios based on annualized operating earnings. For additional earnings series, please refer to www.spglobal.com/earnings.html. DJ latest available book values for FY 2000 and 1999, and S&P latest for 2000 and 1999.

Last Week, Prev.Week, Year Ago Week

--------------------------------------------------------------------------------

DJ Industrial Average 10607.23 10572.49 9823.41
P/E Ratio 28.67 28.58 19.87
Earnings Yield (%) 3.49 3.50 5.03
Earns $ 369.98 369.98 494.36
Dividend Yield (%) 1.73 1.73 1.80
Dividends ($) 183.23 182.67 177.14
Market to Book 8.07 8.04 6.00
Book Value ($) 1315.16 1315.16 1638.10

DJ Transporation Average 2951.54 3010.24 2631.37
P/E Ratio Nil Nil 11.62
Earnings Yield (%) Nil Nil 8.60
Earns $ -394.59 -394.59 226.38
Dividend Yield (%) 1.07 1.05 1.54
Dividends ($) 31.56 31.56 40.64
Market to Book 1.62 1.65 1.67
Book Value ($) 1819.41 1819.41 1570.98

DJ Utility Average 295.93 298.93 368.46
P/E Ratio 14.84 14.99 20.69
Earnings Yield (%) 6.74 6.67 4.83
Earns $ 19.94 19.94 17.81
Dividend Yield (%) 4.02 3.97 3.43
Dividends ($) 11.90 11.87 12.63
Market to Book 2.46 2.48 2.98
Book Value ($) 120.30 120.30 123.79

S&P 500 Index 1166.16 1164.31 1150.53
P/E Ratio 30.16 30.03 22.62
Earnings Yield (%) 3.32 3.33 4.42
Earns $ 38.66 38.77 50.86
Dividend Yield (%) 1.36 1.36 1.36
Dividends ($) 15.86 15.83 15.65
Market to Book 5.37 5.36 5.74
Book Value ($) 217.32 217.32 200.35

S&P Industrials Index 1345.92 1348.88 1326.29
P/E Ratio 43.61 43.71 24.60
Earnings Yield (%) 2.29 2.29 4.06
Earns $ 30.86 30.86 53.91
Dividend Yield (%) 1.17 1.16 1.18
Dividends ($) 15.75 15.65 15.65
Market to Book 6.58 6.59 7.00
Book Value ($) 204.54 204.54 189.54
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