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by mikeash
4896 days ago
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Did it assume growth, though? Even at its peak, their P/E ratio was similar to companies like Microsoft, GE, and IBM. If they just sustained their current profitability they'd still be well worth the peak price and more. One can certainly make arguments about whether they can even sustain, but that peak price didn't require continuing levels of growth similar to the 2007-2012 period. |
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