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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
|
Current
|
|
Technology
|
83
|
37
|
|
Health Care
|
30
|
36
|
|
Energy
|
28
|
22
|
|
Communication Services
|
26
|
20
|
|
Consumer Staples
|
25
|
31
|
|
Financials
|
22
|
19
|
|
Capital Goods
|
20
|
28
|
|
Capital Goods
|
20
|
28
|
|
Consumer Cyclicals
|
19
|
16
|
|
Transportation
|
12
|
14
|
|
Basic Materials
|
12
|
18
|
|
Utilities
|
9
|
23
|
Source: Wall Street Journal, November 27, 2000
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