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Technology Stocks : Read-Rite

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To: FNS who wrote (2660)	12/13/1997 2:38:00 PM
From: wayne nikituk	Read Replies (1) of 5058

A point worth reiterating--people pay 40X earnings for Coke because they know the company, with its worldwide brand name leadership, will continue to earn consistent profits growing at a steady albeit less than spectacular rate. Slow and steady. Better than run and crash, boom and bust. As far as I'm concerned these earnings estimates on these stocks are meaningless...even after the supply situation clears up, most investors will be afraid to hold these stocks even wneh earnings start to improve again for fear that the next price war is not far off.

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