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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Sure Thing who wrote (53376)	8/31/1998 9:25:00 PM
From: gbh	Read Replies (1) \| Respond to of 61433

Sure Thing, the NAZ was pummeled today because the market finally caught up with the big names today. MSFT, CSCO, and DELL. These stocks were/are trading at VERY, VERY lofty PEs. Fundamentals are finally going to rule. Its tough to say the market is oversold when MSFT still trades at a PE of 63, DELL at 72, and CSCO at 48. ASND at 30 PE now seems to be more fairly valued. These stocks, with the exception of ASND, simply are not growing anywhere near this fast. In an optimistic market, maybe these prices are fair. But this market is no longer optimistic. I do believe ASND is near the bottom because its trailing PE is roughly 30 now. Its why I bought more at the close today. gary