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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Drake who wrote (1071)	9/26/1999 11:42:00 AM
From: Oblomov	Read Replies (1) \| Respond to of 24042

Andrew, you're an intelligent guy -- do you really believe that future technology is going to create "fewer profits instead of more profits"? In the short run, and in the aggregate economy, yes. In the long run, no. And certainly the companies that are responsible, such as JDSU, will benefit, and reap substantially higher profits. Technological innovation has a deflationary effect, IMO, and as we are already seeing in many sectors of the economy, it allows for more efficient price competition. This is a boon for the consumer, but does not improve the financial condition of the merchant. Note that S&P 500 earnings will be flat if not slightly lower for 1999 compared with 1998. AA (I am long JDSU, and I'm not selling)