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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (9990)	5/23/2004 5:48:17 PM
From: Cary Salsberg	Respond to of 25522

Sam, The give away sentence is "Yet the 20-year median premium afforded tech stocks has been 30%, so tech remains expensive even by the standards of its own history." What are "tech stocks" now? What were they 20 years ago? Is there a difference between the role technology plays today and will play, tomorrow, compared to the role played 20 years ago? RE: "...growing confidence among tech CEOs, trumpeted in conference calls and slick investor presentations, might lead Wall Street to begin mistaking cyclical business improvement for another secular Golden Age for tech companies." I can't imagine any representative of my favorite 8 making a "slick" presentation. I can't recall any previous "Golden Age" for tech companies or for tech. I certainly see a "Golden Age" ahead for tech. Certainly, the economy is cyclical and a cyclical improvement in the economy will improve results at tech companies. Hopefully, the economy is moving into a period of stable growth, a steady state background from which to view the progress of tech and to determine if a "Golden Age" is here.