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Technology Stocks : Intel Corporation (INTC)
INTC 37.81-4.3%Dec 12 9:30 AM EST

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To: Amy J who wrote (167131)6/26/2002 7:14:15 AM
From: John F. Dowd  Read Replies (2) of 186894
 
Amy: Thank you. What war? This terrorism thing? It is not going to end and neither is the Palestinian thing going to be settled anytime son. We have always had this problem and it doesn't matter who was president the problem always existed.

This whole thing is a matter of confidence. Investor confidence and business exec. confidence. Execs don't wan't to spend because they don't have the excess cash/profits to reinvest and the investor confidence has been shaken by the NAZ going from 5300 to near (today) 1300's. That is a huge haircut and that generation that had always done well by buying the dipd cannot see over the rim of this dip. Hard to say what will bring us out of it. Fear is a paralyzing thing but if don't shake the world will be in a mess economically because as the old saw goes when the US gets a cold the rest of the world gets pneumonia.

As for INTC I bought into it at 15x earnings in 1992. Trouble is INTC keeps reducing EPS expectations so no one knows what the PE is going to be.JFD
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