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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: J.B.C. who wrote (125533)	5/25/2001 2:05:38 PM
From: craig crawford	Read Replies (1) \| Respond to of 164684

GE has so many business divisions that the bulls latch onto whichever one is hot and use that as an excuse to bid the stock up. They are such a huge diversified company that I don't think you can count on an energy build out to justify their ever growing market cap. I think most people would classify them as a financial or general play on the economy more than anything else. They have a large merger with Honeywell and an outgoing CEO to deal with in the future. It may go smoothly, but everyone has already priced in a smooth transition. What if there is a hiccup? What if the bear rears it's ugly head again? What if we go much deeper into recession and Greenspam runs out of cuts? What if inflation or even worse stagflation hits? If the carnage from the tech sector ever starts to effect the "old economy" GE could easily be 50% lower from here. It's not cheap by any historical measure, and it's too large to grow fast enough to justify it's market cap. They have a PE in the low 30's on next year's earnings and high 30's on this year's earnings. What if there aren't any earnings? Laugh at me all you want, but think how many people would have laughed at you 18 months ago if you were to say that CSCO will barely make any money in 2001 and LU might go bankrupt.