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Strategies & Market Trends : Fidelity Select Sector funds

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To: Dennis who wrote (339)11/3/1997 4:52:00 PM
From: Andrew H  Read Replies (3) of 4916
 
Dennis, while the average PE for the group may be 25, according to may calculations on the top 10, the average PE on Fidelity's top 10 is 37.4. If we figure the rest of the industry is at 25 and we average the two figures (since the top 10 comprise about 40% of the total portfolio while the oil services sector comprises about 80% of the portfolio), we get an average PE of about 31, which is not bad considering how rapidly earnings are growing.
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