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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: nommedeguerre who wrote (14419)	1/16/1999 7:31:00 PM
From: JB2	Respond to of 74651

Maybe the 400 million residents of North America are a self perpetuating little economic engine of their own, what with untaxed internet commerce, cheap gasoline and the constant love affair with automobiles. We are after all the only country in the world where car dealerships advertise, and sell, three year old vehicles with 75,000 miles on them as "low mileage". It IS psychological as you said. Everybody's so busy working and driving to and fro, who's got time for commonsense analysis. Microsoft, like Berkshire Hathaway, will reign/fly as long as its founder is not locked up. I'd bet on it.

To: nommedeguerre who wrote (14419)	1/16/1999 8:47:00 PM
From: ed	Read Replies (1) \| Respond to of 74651

If you think PEof 20 was high two years ago, then why do you think PE of 70 is high today ? There is no universal standard about what number is high PE ( or too high) or low PE, all depends upon the sentiment of investors. In a very depressed market when everyone wants to dump, even 10 is a high PE. It also depends on what industry you are looking at, such as the banking industry, even 20 is counted as high PE. Just like the price of housing, back in 1960s, $100k is counted as very high for a 1500 sq ft single fmily house; but today, $100k you can not even buy an one bed room apartment in SF. Looking at today's environment, even an average PE of 80 maybe low, thinking that there are almost no competitors for US high Tech companies in the world stage , technically speaking, the US high tech companies hold a monopoly positions in the world market, and that the world is getting into a turning point from low productivity to high productivity propelled by technology. If you miss the big pictures of the world, today's world is completely different than what you were in 30 years ago, you may also miss the big high tide ( up trend) of the US high tech stocks in the coming years.