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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.75-0.5%Nov 11 3:59 PM EST
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To: Elroy who wrote (74445)11/8/2007 12:56:17 AM
From: Lizzie Tudor  Read Replies (1) of 77397
 
a funny thing happens to forward earnings estimates as time goes on. They tend to decline.

GOOG for example consistently traded for forward pe 65 and this was when they were a 50 billion mkt cap company. Doubters would come on the GOOG thread and say that CSCO never traded above 25 forward PE in the day... bla bla bla. The problem is there is no way to know that because as time wears on those estimates get raised and voila you now have a forward PE of 30 for GOOG, etc.

I suspect Cisco was perceived as HUGELY expensive once. It grew into its valuation.
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