Stocks More Expensive Now Than At Height Of Tech Bubble

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Stocks More Expensive Now Than At Height Of Tech Bubble

By David Spurr on August 19, 2009 | More Posts By David Spurr | Author's Website

Companies in S&P 500 (^GSPC) are as expensive as they were at the height of the tech bubble.
Sales are declining at an incredibly rapid pace. The average Y/Y rate of change in sales since 1999 for companies in the SP500 has been 4.09% (reported quarterly). In the June of 2009 quarter, the Y/Y decline in sales was -24.82%.
Sales Y/Y sales have been in decline since Q1 2008.
Forward Estimates are under review.
Failure to improve earnings will result in a significant “downer” for equities.
Earnings will not improve unless sales improve.

The above information comes directly from the S&P 500 website.

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