Glenayre Technologies(GEMS)- a pure cellular PCS play? Message Board

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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?

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To: Jeffrey L. Henken who wrote (2137)	10/16/1997 7:35:00 PM
From: Machaon	of 3431

<< Would you conclude from that figure that more of a downfall is coming? >> Not with just one higher PPI report and a lower CPI. But, I believe that the higher-than-normal evaluations are being supported by the tons of pyramid money coming into the market, the low interest rates, low inflation and stability. It certainly can't be based on earnings and/or revenue growth. So, what's going to cause this market to take a dump? In my mind, it's going to be "repetitive" signs that we are heading for inflation or deflation. My bet is deflation. Companies are having problems raising prices due to competition overseas. And, it will get worse before it gets better. That's going to lead to lower U.S. profits "in the future". I think that the reason that GEMS hasn't been dancing the same tune as other tech stocks, with a much higher PE, might be caused by the earnings problems of the third quarter of 96, and the resultant shareholder lawsuits, plus uncertaintly about Glenayres future growth. Regards, Bob

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