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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (5651)	9/3/2002 2:22:31 PM
From: Softechie	Read Replies (1) \| Respond to of 89467

MARKET TALK: Tech Still Not Place To Be, Yardeni Says 03 Sep 14:07 Edited by Thomas Granahan Of DOW JONES NEWSWIRES (Call Us: 201-938-5299; email: tom.granahan@dowjones.com) MARKET TALK can be found using N/DJMT 2:07 (Dow Jones) To play technology and productivity, buy consumer stocks, says Pru's Ed Yardeni. He says widespread competition is one of the main forces that is both driving technological innovation and passing most of the resulting benefits to consumers, rather than to businesses. He also notes that tech's forward P/E went from 13.9 in 1995 to a record high of 48.3 during March 2000, and is now at 25.4, still well above the market's P/E. Further, tech industry analysts may be too optimistic about short-term outlook for earnings - while they estimate a drop of 11.1% this year, they predict a gain of 50.1% next year. (TG)