Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 45.07

-17.0%

Jan 23 9:30 AM EST

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To: Joe NYC who wrote (45607)	1/15/1998 2:17:00 AM
From: Mo Chips	Read Replies (1) of 186894

<<Do you think P/E is just a function of hype? Actually, hype may be a major component of P/E, because hype influences people's opinions about future earnings.>> Hype is another way of expressing expectations. And expectations are another way to express probablility. A PE above the growth rate, assuming expectations are the same for all investors, would then be a function of the yield on a riskless bond (t-bills) factored up for the probability of increased cash-flow to the investor. Another way to state would be that the yeild on the investment you created in your hypothesis would then be equal to the yield on a t-bill plus the 'premium' or expected value of the growth rate. Mo

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