WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 222.07

+3.3%

Jan 15 3:59 PM EST

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To: Art Bechhoefer who wrote (26240)	6/28/2004 7:40:00 AM
From: Dave	Read Replies (1) of 60323

Art: The point is whether or not there are "material" differences between guidance and actual results. Companies have missed "by a penny" and provided no update during that quarter. Companies, also, have come in light by a few million on the top line and, again, they have not issued "revised" guidance during that quarter. Therefore, a company can miss expectations and not update guidance. RE: Interest rates While that is one rationale as to why the S&P appears to be in a trading range, another reason why it appears that the market really is not moving up even though earnings growth has been fantastic is due to the fact that the P/E ratio on the S&P 500 ~22 on a ttm basis and ~18 on a 12 month forward basis. Both are quite a hefty premium to pay. David

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