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P/E Gap Shrinks Between Tech Stocks and Non-Tech Stocks
Price to earnings ratios of beleaguered technology stocks are falling back to earth, and causing the gap between them and all others to narrow.
Market-capitalization-weighted PEs for the trailing 12 months are listed below:
Sector
|
March Peak
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Current
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Technology
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83
|
37
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Health Care
|
30
|
36
|
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Energy
|
28
|
22
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Communication Services
|
26
|
20
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Consumer Staples
|
25
|
31
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Financials
|
22
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19
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Capital Goods
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20
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28
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Capital Goods
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20
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28
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Consumer Cyclicals
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19
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16
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Transportation
|
12
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14
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Basic Materials
|
12
|
18
|
|
Utilities
|
9
|
23
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Source: Wall Street Journal, November 27, 2000
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