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The NASDAQ index closed at 4955 as of yesterday. If it breaks through 5132, then that will be a long-awaited milestone for the index since that will be its first record high in nearly 15 years.
I guess that should call for a celebration of sorts. :-)
Your chart is wrong. The Nasdaq showing a PE of over 40 today should've been the giveaway.While PEs did spike in 2000-2002 from the recession, it was not that high pre-recession.
That's probably the entire Nasdaq, not the Nasdaq 100. Anyway the Nasdaq had a P/E of 29.7 when it hit 4k in 1999, I find it hard to believe it was at 30 when it hit 4963 less than a year later. Probably closer to 40.
I don't know how they're getting those numbers. 40+ PE today means it's an even bigger bubble if that's the case. Regardless, smartphones in developed markets are mature and only going down due to falling ASPs. EM's are going to see their peak soon and ASPs are dropping even faster (projected -25% ASPs by 2016). The PC has been dead for years, tablets are dead. Tech is a sitting duck here. The late 90's actually didn't look as ridiculous as it does now... The internet was starting to take off, cell phones were taking off, PCs were still strong and growing. The enthusiasm over real fast growing markets actually made sense until it got out of control.
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