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Technology Stocks : Nortel Networks (NT)
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To: Doug who wrote (2391)4/9/1999 4:53:00 PM
From: Kenneth E. Phillipps  Read Replies (1) of 14638
 
Only the Big Boys Are Making Big Gains?

The latest edition of Business Week indicates "Only the Big Boys Are Making Big Gains"

Year-to-date performance of the S&P 500, by market capitalization

AVG MARKET CAP PERFORMANCE
IN BILLIONS YEAR-TO-DATE

1ST QUINTILE $70.5 7.5%

2ND QUINTILE 15.0 +3.9

3RD QUINTILE 7.8 +0.7

4TH QUINTILE 4.4 +0.7

5TH QUINTILE 1.7 -1.3

This logic doesn't seem to work in the telecom equipment sector - (Yesterdays figures from SI)

TLAB with a market cap of 22.52 B (Second Quintile) is up 64.8%

ADCT with a market cap of 6.99 B (Third Quintile) is up 47.3%

NT with a market cap of 50.46 B (Second Quintile) is up 46.9%

CSCO with a market cap of 197.49 B (First Quintile) is up 26.7%

LU with a market cap of 172.8 B (First Quintile) is up 16.4%

Conclusion - Telecom equipment investors are beginning to pay attention to earnings and PEs - not just size or market share.

Ken
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