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Technology Stocks : Intel Corporation (INTC)
INTC 34.50+2.6%Nov 21 9:30 AM EST

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To: Harry Landsiedel who wrote (54493)4/26/1998 7:55:00 AM
From: Thomas J Pittman  Read Replies (1) of 186894
 
It is true that the PE is lower. Several thousand messages
back when there was discussion of such things, there was
a contingent that said that intel would never be afforded
an extremely rich PE since they were essentially a
manufacturing company -- in fact, a manufacturing company
with one product! The one product part has gone but it
remains that the large capital expenditure does liken
intel to something other than the microsofts of the world.

Personnally, I believe that price appreciation, at this point
will be the product of earnings growth and not of a
substantial expansion of the PE. Which means, I think, that
Craig's 2nd half predictions had better be right if I am
to make any more money. If it is not, then I think that
a PE of 12 or so, as was the case in late 95 will be
at least a possibility given the historical range

Thanks,

J
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