Word: teche
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That kind of math plagues tech stocks across the board. Yet it's a mistake to think that way. It assumes that the nasty tech-spending slowdown dragging the economy into what feels like a recession will never end. It will. And when it does, the earnings prospects of market leaders like Nortel will improve rapidly. Factoring in a recovery, analysts estimate that Nortel will earn 58[cents] a share in 2002. On that estimate, its P/E is 24. Not bad for a company expected to grow 25% annually. That translates to a 0.96 PEG ratio, which is a measure...
These stocks can still go down. Warren Buffett, for one, says tech remains expensive. But there's an old saw about cyclical companies sure to survive a recession: buy them when P/Es are high; often that means earnings are temporarily depressed, not that the stocks are overpriced. And yes, tech stocks are cyclical, but you knew that...
...time.com/personal for more on tech stocks. Dan joins The Money Gang each Tuesday at 2:15 p.m. E.T. on CNNfn
...sing about it. It's time to start thinking about ourselves. I'm imagining something like We Are the Economy. I hear Bono belting out, "There's an IPO after every storm/ a VC ready to lend a hand/ Just hold on, baby/ Hold on to your Janus Global Tech Fund, man." Also, it might be nice to join hands across the country wearing the same T shirt. It will let other countries know we're serious and organized, if a little fruity...
...instant jillionaires of the tech-stock IPO boom, pledging lavish gifts to charities and universities was a way of parading both their compassion and their clout. But with the tech bubble gone poof, many of those same promises are worth about as much as dotcom-stock shares. Cancel that new dorm...