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Technology Stocks : GALT - Galileo Technology

GALT 2.810

-4.4%

10:39 AM EST

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To: Howard Bennett who wrote (575)	12/24/2000 1:55:14 AM
From: Johnny Canuck	of 584

Howard, I didn't hear the last GALT or MRVL conference call, but in general it looks like 2001 will the year of the metro area optical network and it looks like the metro network is going gigabit ethernet. There are better technologies, but the reality is that IT managers are familiar with ethernet. So they will look to migrate to systems that pose the learnings curve that is the least steep. I see the market segment starting to ramp steeply this year, more so if the standards committee can agreed on the final draft of the gigabit ethernet standard. This is one beaten down stock, but I expect it to be higher later in the year provided we do not go into a recession in North America. January is a dangerous month though. The reality is demand is slowing in the networking and telecommunication sector. The access to cheap capital is scaring buyers and giving them less room to move. Short term there could still be some down side. It could be significant if investors don't get a rate cut or it is perceived that the Fed needs to do a 1/2 point rate cut since they tighten too much.

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