INTC Message Board - Msg: 1823587

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Technology Stocks : INTC

INTC 35.53

-1.1%

Nov 14 9:30 AM EST

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To: Joey Smith who wrote (601)	7/23/1997 7:43:00 PM
From: Michael Young	of 990

Anyone selling or shorting INTC because it is trading at a "historically" high PE is missing the point. Many world class multinationals are being accorded higher multiples in this market. Just look at the big pharmaceutical stocks. Why should a market leader like INTC trade at a below market multiple? They dominate the "brains" behind the current technology revolution. If that doesn't deserve a decent multiple, I don't know what does. These bearish murmurings are a great sign. One of the oldest stock market "truisms" is that $90 stocks eventually become $100 stocks. I've seen it happen dozens of times recently. In this current low interest rate, good economic growth environment leaders like INTC, CSCO, COMS, TXN attract the money. MIKE

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