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To: Wowzer who wrote (59962)	2/8/2000 8:32:00 PM
From: Brian P.	Respond to of 95453

While I can't argue with you guys that many of the techs are not overvalued, some wildly, some of them are really growing real earnings at incredible rates. For example, Cisco's grown earnings 43% annually over the past five years and just blew away estimates again; JDSU and NTAP are growing 100% per year by conservative estimates. Cicso and JDSU dominate their markets for critical things that make the internet and fiberoptic communications happen. Barriers to entry for competition are huge. Consider the wildest projections for growth in the demand for oil, then consider this: traffic on the internet doubles every 100 days. I think the crash in techs will be selective--some will continue to thrive, some will die miserable deaths--competition will be brutal and unforgiving. Some of the competitors look like Tyrannosaurus Rex to me. Barring the equivalent of a killer meteor from outer space, nothing, not even a general tech crash will stop them for long.