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Technology Stocks : Nortel Networks (NT)
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To: William Hunt who wrote (9887)2/19/2001 2:03:04 AM
From: jack bittner  Read Replies (1) of 14638
 
sure it's good to post both sides of every issue, but scott moritz's inaccuracies are worthless. nortel's revenues, earnings and stock price fell because because the economy suddenly slowed down - to the astonishment of Alan Greenspan and of everyone but the perennial bears like Fleck and Grant, who've been calling for a recession every month for 10 years and who are for the moment as right as a stopped clock is twice a day. nt fell so hard because it is at the top of the food chain in supplying the carrier's networks - so all the inventory excesses in all the niche companies feed up and up into nortel and when the carriers stop buying nt is exposed.
you can weather any economic storm by owning your stocks only for all cash with no need to worry when the recession will end and with the knowledge that this dynamic economy will at some point end the downturn as it always has. with lucent's implosion nt now stands alone in having the size and experience to handle nation-sized multi-billion dollar contracts. 75% of all U.S. Internet backbone traffic is transported on nortel equipment, as is 70% of the Pan-European optical backbone (Ryan, Hankin) and 56% of the global market for DWDM metro is nortel's (Dell'Oro). if you were a carrier who would you go to to supply it, maintain and update it? if nortel paid dividends and you lived on the dividends and they suspended them, i could see you'd worry. but the economy will come back and so will nortel.
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