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Technology Stocks : Intel Corporation (INTC)
INTC 48.80+5.0%Feb 2 3:59 PM EST
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To: Ann Janssen who wrote (7017)12/31/1996 7:31:00 PM
From: Bill Morel   of 186894
 
Investors typically use (estimated) *future* earnings to price a stock, not past earnings. So saying INTC is expensive at P/E of 26 times 1996 earnings isn't necessarily true.

To the contrary, estimates are around $8 for 1997 so that would make $134 /$ 8 = pe of 16 to 17. Not so bad really. Though it has traded much lower than this in the past (about p/e of 12 in the tech stock correction when I bought at $53.)
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