Hello Madharry,
Good point about tech companies. In the early 2000's, before I was involved in value investing, I was more of a 'Gorilla Game' investor and followed the associated threads and stocks here on SI. I think part of the reason I'm into CSCO, INTC, and MSFT over other techs is that they are gorilla stocks, with the idea being that their products have incredible stickiness.
Maybe you're right that INTC, CSCO, and MSFT's products could be replaced someday, that's possible. But, I don't see it happening in the next 5 years and I do think that the stickiness of their products in the meantime allows me to somewhat gauge a normalized earnings at least for these 3 companies. But, good point in general...
Thanks,
cwillyg |
