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Technology Stocks : 2000 Date-Change Problem: Scam, Hype, Hoax, Fraud
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To: Done, gone. who wrote (233)10/7/1997 1:44:00 PM
From: Sid Turtlman   of 1361
 
Michal: I am not recommending IBM as a play on Y2K or a play on anything, for that matter; I have no position in it, but if I did, I would rather be short than long. Nevertheless, I think that it will still be here in 2002, which is more than I can say for most of the Y2K plays. And it will have a large, continuing stream of sales and earnings at that time, which won't be the case for your little doggies.

So the question remains, how excited should one get about 2, or at most 3, years of earnings? If that was just a stepping stone for even higher earnings in the years 2000-2005 that would be a different story. But sales and earnings of these companies will collapse so soon after their peak that I see no justification for more than a tiny multiple of temporary, peak earnings.
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