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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 173.20-3.3%3:59 PM EST
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To: JohnG who wrote (118768)5/14/2002 1:51:19 PM
From: Wyätt Gwyön  Read Replies (2) of 152472
 
here's what their lead economist (Blitzer) had to say about the SPX's PE of 30: "When you realize the average price/earnings ratio for the last 50 years has been 16 times, you can see that the market is overvalued. The new definition shows that the valuation today is extreme."
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