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Technology Stocks : Nortel Networks (NT)
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To: TechAlive who wrote (1100)9/30/1998 12:21:00 PM
From: Jeng Chiu  Read Replies (2) of 14638
 
The PE on NT is NOT high. That's ludicrous. Current estimates for Yr end 1998 is $1.90/share. At $31, the stock trades at approximately 16 x earnings. 1999 estimates are $2.37. Even assuming those estimates are lowered to $2.00/share, the stock would be trading at about 15.5 x its earnings. That's a very low PE for the industry. At $69, LU trades at 34 times 1999 earnings. Of course LU is #1 and therefore deserves a higher premium, but NT is cheaper than almost all the other telecom companies.
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