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Technology Stocks : Apple Inc.
AAPL 274.66+0.9%9:38 AM EST
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To: Alomex who wrote (17867)9/11/1998 6:44:00 PM
From: Richard Habib  Read Replies (2) of 213177
 
All right let me take a stab at it. Alomex and Mark, you seem to believe the market should be based on some simple mathematical model whereby you crank in earnings and out comes stock price. If things were as you said there wouldn't be a need for PE because all that would count are"fundamentals". A market is driven by supply and demand far more than fundamentals. What's the President have to do with supply and demand. The paralysis of the U.S. government, and the paralysis is quite evident, is causing people worldwide to wonder if it will result in a worsened world situation. Hence lack of demand, hence lower PEs. Also, consider many investors are foreign and are not quite as informed on the lack of power you think our President has. They would naturally be concerned as from their viewpoint bad things are happening here, hence lack of demand again. The President's inability to cope is allowing IMF funding to be defeated and delaying a response to the Russian crisis. It may also result in the budget surplus being used for a tax cut as Democrates try to curry favor with the voters, even though as of yet there really is no budget surplus which will burst the bubble of fiscal responsiblity we've finally managed to establish. I could go on but I'm sure you get the point. Now if you ask me what Russia has to do with Apple. . . I'll know we have a problem. Rich
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