(CORRECTED VERSION )Doug, looking only at " growth rates " of IP/Opticalÿ versus ATM can be totally misleading to people.
A growth rate is a mathematical derivation, not an absolute figure.
If I start owning $1 and end up with $3 my growth rate'
300%, sounds fabulous. But I am only $2 richer:
not good.
If on the other hand I start with $100 and end up with $130,
my growth rate is a much punier 33%. However I am $30 richer which is a hell of a lot richer than $2
in example above.
That I believe best describes NN's prospective 30% growth rate in the Carrier space
with 350 installed telcos and 10000 businesses.It is a small 30% growth rate out of a large
base pie because they they will be the ONLY ONE in that space.
Optical IP growth rate may be high but the installed base is not.So I don't think you are going
to see large amounts of cash come in in the immediate future.
ÿI think a lot of telcos , NT, CSCOÿ buy opticals QTERA, CERENT because a)are looking more into 6-10 years from now ,
b) they have theÿ high share cash , c)are mesmerized by their financial advisers and visions of the future.
However it is difficult to say how much cash flow these new technologies will make in the next 5 years: May be
less than we think.
Meanwhile however we have a proven old technology, wireless,
whose growth rate now equals/exceeds that of optical and NN is the leader.
Here is what The Big Money is doing:Here is where the cash is ( as opposed to growth rate!!! ),
in Europe:
moneycentral.msn.com
and this is how far behind the US is:
cbs.marketwatch.com
understand better now?
:-)
TA
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ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ moneycentral.msn.com
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Jubak's Journal
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Fast and wireless -- Nirvana on the Net
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Here's why I think wireless broadband technology is so powerful and
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ why stocks like RF Micro Devices, Wind River and
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Nokia are on board for blastoff.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ By Jim Jubak
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ For something that weighs in at four ounces, wireless phones sure throw their
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ weight around. For a warm up, these lightweights sent
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ the voice phone business to the canvas.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ On Nov. 19, Vodafone AirTouch (VOD) offered $137 billion in stock for
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ German wireless phone leader Mannesmann (MNNSY). Just
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ for reference, the stock market values all of AT&T (T) at $166 billion.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ And now in the main event, wireless phones are about to do the same
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ thing to many of the companies now in
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ the vaguely defined business of getting the Internet into a home or office.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Not bad for a bit of plastic that many
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ wireless phone companies pretty much give away.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ The ubiquitous wireless phone
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Wireless phones are everywhere, so maybe it's hard to think of them
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ as a disruptive development on a par
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ with such clearly new technologies as distributed application software
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ (see "Stocks that'll hop to apps on tap")
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ or optical switching ("Stocks moving at the speed of light").
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Wireless phones have been around for so long, they can't possibly be
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ disruptive now, the logic goes.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ But that's only true if you insist on thinking that technology revolutions are caused only by technology, and ignore the power of
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ economics in picking winners and losers among competing technologies.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ I think I've saved the best for last in this four-part series on
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ disruptive technologies. (To learn more, see the first in the series,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ "Tech picks for the revolution.") The last decade has seen enormous
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ economic power build up behind wireless phone technology, and I think
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ over the next decade this economic power will provide the fuel
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ for the next stage in the global wireless revolution -- one that's called wireless broadband.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ What's the hoopla all about?
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ What's wireless broadband? And why do I think it's so powerful?
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ And what stocks should you buy to play this trend? Well, that's what
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ this column is all about.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ You've probably seen the ads on TV. This guy out to make the world safe
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ for wireless phone customers meets in the middle of a park
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ with this trench-coated guy who looks like a character out of a bad "X-Files" episode.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ They exchange a mysterious case. Inside is...a
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ wireless phone that will let a user connect to the Internet.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ It's all supposed to be very impressive, but frankly it's pretty hard to figure out
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ what the hoopla is all about. So you can get a stock quote
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ or read a very, very short e-mail message on the tiny little screen on your wireless phone.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Big deal. Who even wants to do that?
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Pretty much nobody right now, it's fair to say. It's a toy, a curiosity.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ The truth is that wireless data transfer isn't particularly fast or reliable.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ It currently runs at just 9.6 kilobits to 14.4 kilobits per second
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ -- a whole lot slower than the 56 kilobits per second speed of that modem
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ hooked up to your PC at home that you complain is already too pokey.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ That's why the wireless companies are virtually giving the
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ service away. Sprint PCS, for example, will let you sign up for its
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ wireless Internet service as a $10 a month add-on to its regular PCS
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ service.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ But you know what? The wireless industry also isn't spending
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ anything significant to provide this toy. Nobody's upgrading their network
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ to deliver stock quotes to a few thousand customers.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ If somebody buys a more expensive Internet phone instead of a basic model from
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Motorola (MOT) or Nokia (NOK), that's gravy.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ The $10 a month is a little incremental revenue to pay for some of the marketing
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ campaigns.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Getting ready for the big rollout
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ All the wireless companies are doing right now is getting the
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ market ready for the rollout of the next generation of wireless broadband
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ technology -- or maybe it's more accurate to say technologies.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ In the time-honored tradition of the wireless industry, these companies
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ are backing two competing standards -- CDMA and General Packet Radio Service.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ (Each of these "standards" has major variants,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ such as AT&T's Cellular Digital Packet Data, which is related to General Packet Radio Service.)
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ These should hit the U.S. market in
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ mid-2000 (in the case of General Packet Radio Service) or mid-2001 in the case of CDMA.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ (AT&T is offering Cellular Digital Packet
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Data in the United States now.)
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Both CDMA and General Packet Radio Service offer really big increases
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ in speed over the current 9.6 kilobits-per-second rate.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ According to Michael Murphy, editor of the California Technology Stock Letter,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ General Packet Radio Service promises 100 kilobits
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ per second -- about 10 times faster than the current wireless standard.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ The new CDMA standard will be even faster at 128 kilobits per
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ second. That's about twice as fast as the current 56-kilobit home PC modem.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ That speed probably isn't fast enough, however.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ You know how long it can take to load an Internet page at home. No one will stand
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ around in the street waiting that long. So these new technologies play tricks
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ to make the Internet faster. For example, Nokia and other
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ companies backing the General Packet Radio Service standard are also
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ pushing a technology called wireless access protocol, or
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ WAP. A WAP server -- and Nokia is currently giving these
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ away -- automatically rewrites a Web page from the HTML language into the
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ simpler WAP language to speed up delivery.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Wireless data speeds will continue to increase with time, but the
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ development path for this technology is pretty clear. The next
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ generation will be faster than the standard PC modem operating over
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ standard copper wires, and about as fast as ISDN. (Remember
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ that technology?) It will still lag the 640 kilobit speed of DSL,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ but even at 100 to 128 kilobits, wireless is in the game.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Four ways that the game will change
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ And in fact I think wireless data at these speeds has the power to change the game in four ways.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 1.First, it accelerates the rate at which U.S. consumers, following in the wake of their
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ European counterparts, go off the wire. More
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ and more wireless users around the world are opting for wireless as their only phones.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ voice, still had to stay on some wire (or cable) for data and the Internet. Not any more.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 2.Second, wireless broadband will make the market for Internet appliances explode.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Any appliance with a radio frequency chip set
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ and a wireless modem can hook up to the Internet.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Nothing has to hook up to a phone jack, which means you can put an
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ appliance anywhere in a house, a car, or in a bag, backpack or pocket.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ (For more on the implications of a world of wireless
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Internet appliances, see my May 21 column "Who wins when the world goes digital?")
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 3.Third, wireless broadband will heat up the struggling market for home networks.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Internet appliances all need to be coordinated --
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ can't have personal calendars or stock portfolios out of sync.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ But the current solutions for updating all the devices an individual
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ uses are awkward. Infrared communication requires a clear line of sight.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Physical docking requires, well, physical docking of
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ each device. But the wireless home network would consist of just a hub,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ connected to the Internet, that coordinates and swaps
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ data between all the devices you own using radio frequencies and software.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ The consumer at home would have all the
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ advantages of a workplace Ethernet -- including Ethernet speed -- without the wires.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Want to see what that device would look
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ like? Check out Apple's AirPort wireless base station from the link on the left.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 4.The consumer market for wireless broadband will give a huge push to the business market.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ As wireless devices provide central
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ access for data, the logic of building wireless corporate networks increases.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ At the least, workers who use wireless devices will
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ want to be able to access the corporate network, which may, in part,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ go wireless even inside the office. And, going even further,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ some corporations will opt for going wireless with their whole network
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ for data access and transmission.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ What stocks to buy?
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ So what stocks do you buy to take advantage of these changes in the rules?
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ This isn't the first time I've written about this topic, so I've already got a couple ofÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ good plays on broadband wireless in Jubak's Picks.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ As I wrote on May 21, when I added Wind River Systems (WIND) to Jubak's Picks,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ "the company will be a major beneficiary of the
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ rapid growth in the market for specialized appliances that can communicate over the Internet.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ " The most recent development on that
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ front was the Nov. 18 announcement that Wind River, Lucent Technologies (LU) andÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ privately held Trillium Digital Systems would
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ collaborate on a hardware and software product for Internet telephones.ÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ My current target price for Wind River is $45 a share by April
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 2000.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ The other current Jubak's Pick that fits the bill here is Nokia, one of the leading membersÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ of the General Packet Radio Services
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ consortium and a pioneer in wireless phone Internet access. The stock has run up mightily
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ recently, but I think this is a long-term
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ keeper. I'm raising my target price on the stock to $180 by July 2000.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Some of the other ways to play this trend are pretty obvious. Qualcomm (QCOM) is
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ the leader of the CDMA camp. Metricom (MCOM)
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ is building a 128 kilobit-per-second proprietary network in cities around the world.ÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ The first dozen or so cities are set to go online this
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ summer. WinStar Communications (WCII) and Teligent (TGNT) are the leaders inÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ wireless broadband for corporate customers. RF
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Micro Devices (RFMD) makes chips that mix, modulate, amplify and transmit radioÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ signals for wireless local loops, wireless phones
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ and wireless local-area networks. RF Micro Devices is probably the single best stock to
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ buy to invest in this trend (if you already own
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Nokia and Wind River). And I'm adding it back to Jubak's Picks with a target price
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ of $104 for May 2000.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Some less well-known stocks are worth your research time too, I believe. Anadigics (ANAD) and TriQuint Semiconductor (TQNT)
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ compete with RF Micro Devices to supply chips to wireless phone makers. Cisco Systems (CSCO) recently bought Aironet Wireless
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Communications, a maker of wireless local-area networks. Other companies in that market include Proxim (PROX) and Performance
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Technologies (PTIX). PMC-Sierra (PMCS) makes chips for high-speed, broadband networks, including local-area and wide-area
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ networks. The stock is interesting in itself, but the company also owns a substantial piece of Sierra Wireless (CA:SW), a Canadian
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ maker of wireless modems that is a major supplier to Metricom. Other communications-chip companies worth exploring for their
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ exposure to the modem and area network business are Applied Micro Circuits (AMCC) and Conexant Systems (CNXT).
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ I'm sure that doesn't exhaust the list of possible suspects, either. I've just scratched the surface. For example, I haven't found a good
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ play on BlueTooth, the coming standard for radio chips that let devices communicate with each other. To add your suggestions to the
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ list of stocks that will profit from this and my other two disruptive technologies -- optical switching and "apps on tap" -- go to my
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ community, Market Talk with Jim Jubak, and find the running set of posts called "Add your tech picks for the next revolution." I'll be
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ reporting the results in early December.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Recommendations
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Research Wizard
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Add RF Micro Devices (RFMD)
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ RF Micro Devices (RFMD) is probably the best stock to buy to invest in the explosion of wireless communications, including wireless
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ broadband -- assuming you, like Jubak's Picks, already include Nokia (NOK) and Wind River Systems (WIND) in your portfolio. So I'm
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ adding RF Micro Devices, a maker of chips that mix, modulate, amplify and transmit radio signals for wireless local loops, wireless
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ phones and wireless local area networks to my picks with a target price of $104 for May 2000. The stock looks like it's in the process
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ of consolidating after its run up to $80 and I expect that the addition of new customers such as Motorola (MOT) and Qualcomm
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ (QCOM) and the continued strength of its big business with Nokia, will produce revenue and earnings growth that will push the stock up
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ strongly over the next six months or more.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Recommendations
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Research Wizard
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Drop ADC Telecommunications (ADCT)
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ADC Telecommunications (ADCT) moved decisively above my $55 target price for June 2000 on Nov. 29. I'm selling the stock into
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ strength to take advantage of any rally into the company's Dec. 1 earnings announcement. This stock became part of Jubak's Picks by
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ accident when the company purchased Saville Systems, which was already in the portfolio, on Oct. 8. It's been a very happy accident,
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ producing a gain of 35% since then and amply rewarding my decision to stick with the acquiring company. (Full disclosure: I will be
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ selling my shares of ADC Telecommunications the customary three days after this column is posted.)
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Adjust price target for Nokia (NOK)
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ As of Nov. 30, I'm raising my target price for Nokia (NOK) to $180 a share by June 2000 from the previous target of $120 by February
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 2000. Nokia is on track to a record December quarter and the company is set to deliver a promising array of new products in 2000.
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ This remains a core technology holding for Jubak's Picks. (Full disclosure: I own shares of Nokia.)
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cbs.marketwatch.com
A U.S. view on European
ÿÿÿÿÿÿÿÿÿÿÿÿÿ wireless fray
ÿÿÿÿÿÿÿÿÿÿÿÿÿ U.S. carriers years behind in global wireless
ÿÿÿÿÿÿÿÿÿÿÿÿÿ business
ÿÿÿÿÿÿÿÿÿÿÿÿÿ By Jeffry Bartash, CBS
ÿÿÿÿÿÿÿÿÿÿÿÿÿ MarketWatch
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Last Update: 3:34 PM ET Nov 19,
ÿÿÿÿÿÿÿÿÿÿÿÿÿ 1999
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ NewsWatch
ÿÿÿÿÿÿÿÿÿÿÿÿÿ WASHINGTON (CBS.MW) -- U.K.-based Vodafone's
ÿÿÿÿÿÿÿÿÿÿÿÿÿ hostile attempt to acquire Germany's Mannesmann won't
ÿÿÿÿÿÿÿÿÿÿÿÿÿ have immediate repercussions in the U.S., but if
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Vodafone wins the battle, it could force American
ÿÿÿÿÿÿÿÿÿÿÿÿÿ carriers to accelerate plans to expand wireless phone
ÿÿÿÿÿÿÿÿÿÿÿÿÿ service overseas.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ For the past few years, American carriers have been
ÿÿÿÿÿÿÿÿÿÿÿÿÿ focused almost exclusively on creating wireless
ÿÿÿÿÿÿÿÿÿÿÿÿÿ networks covering the 48 contiguous states.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Even now, behemoths such as Sprint (FON: news, msgs)
ÿÿÿÿÿÿÿÿÿÿÿÿÿ and AT&T (T: news, msgs), while touting national
ÿÿÿÿÿÿÿÿÿÿÿÿÿ coverage, still have gaps in their networks. And MCI
ÿÿÿÿÿÿÿÿÿÿÿÿÿ WorldCom (WCOM: news, msgs) has no network at all,
ÿÿÿÿÿÿÿÿÿÿÿÿÿ which is why it's agreed to buy Sprint.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ The push to create U.S. wireless networks is even
ÿÿÿÿÿÿÿÿÿÿÿÿÿ greater among the large local phone carriers, which are
ÿÿÿÿÿÿÿÿÿÿÿÿÿ further behind in the game. BellSouth (BLS: news,
ÿÿÿÿÿÿÿÿÿÿÿÿÿ msgs) and SBC Communications (SBC: news, msgs),
ÿÿÿÿÿÿÿÿÿÿÿÿÿ among others, still lack a national presence.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ "They have to worry about filling in major holes here,"
ÿÿÿÿÿÿÿÿÿÿÿÿÿ said Adam Zawel, a wireless analyst at The Yankee
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Group.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Even the one U.S. company that would seemingly appear
ÿÿÿÿÿÿÿÿÿÿÿÿÿ to benefit from a Vodafone victory, joint venture partner
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Bell Atlantic (BEL: news, msgs), would not harvest the
ÿÿÿÿÿÿÿÿÿÿÿÿÿ fruits for several years at least.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ The reason: Bell Atlantic and AirTouch, the Vodafone
ÿÿÿÿÿÿÿÿÿÿÿÿÿ unit with which the Bell has formed a joint venture to
ÿÿÿÿÿÿÿÿÿÿÿÿÿ blanket the U.S., use a different wireless transmission
ÿÿÿÿÿÿÿÿÿÿÿÿÿ standard than the European carriers.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ As a result, Bell Atlantic wouldn't be able to entice
ÿÿÿÿÿÿÿÿÿÿÿÿÿ prospective customers with a "global" wireless service
ÿÿÿÿÿÿÿÿÿÿÿÿÿ that evades cross-border roaming charges. And it'll be
ÿÿÿÿÿÿÿÿÿÿÿÿÿ several years at least before a unified global
ÿÿÿÿÿÿÿÿÿÿÿÿÿ transmission standard takes hold and wireless users will
ÿÿÿÿÿÿÿÿÿÿÿÿÿ be able to make calls from anywhere in the world.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Nonetheless, if Vodafone manages to
ÿÿÿÿÿÿÿÿÿÿÿÿÿ hunt down Mannesmann (see main
ÿÿÿÿÿÿÿÿÿÿÿÿÿ story), it'll become the world's largest
ÿÿÿÿÿÿÿÿÿÿÿÿÿ wireless carrier by far. That could put
ÿÿÿÿÿÿÿÿÿÿÿÿÿ more pressure on American operators
ÿÿÿÿÿÿÿÿÿÿÿÿÿ to look beyond the U.S.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ To some extent, they are already doing
ÿÿÿÿÿÿÿÿÿÿÿÿÿ that. AT&T has an alliance with
ÿÿÿÿÿÿÿÿÿÿÿÿÿ British Telecommunications (BTY:
ÿÿÿÿÿÿÿÿÿÿÿÿÿ news, msgs) and is likely to make its
ÿÿÿÿÿÿÿÿÿÿÿÿÿ international push in concert with the
ÿÿÿÿÿÿÿÿÿÿÿÿÿ U.K.-based telecommunications giant.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ MCI WorldCom and Sprint, both
ÿÿÿÿÿÿÿÿÿÿÿÿÿ internationally oriented carriers, will
ÿÿÿÿÿÿÿÿÿÿÿÿÿ also seek overseas opportunities,
ÿÿÿÿÿÿÿÿÿÿÿÿÿ though that'll probably have to wait
ÿÿÿÿÿÿÿÿÿÿÿÿÿ until the carriers see if they can muster
ÿÿÿÿÿÿÿÿÿÿÿÿÿ regulatory support for their pending
ÿÿÿÿÿÿÿÿÿÿÿÿÿ $135 billion merger. Policymakers in
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Washington are putting up stiff
ÿÿÿÿÿÿÿÿÿÿÿÿÿ resistance.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ "MCI Worldcom and Sprint have their
ÿÿÿÿÿÿÿÿÿÿÿÿÿ hands full with their own merger," Drake Johnstone of
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Davenport & Co. noted. He estimates it could take a
ÿÿÿÿÿÿÿÿÿÿÿÿÿ year or more for the carriers to win approval.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Among the local phone giants, BellSouth has made the
ÿÿÿÿÿÿÿÿÿÿÿÿÿ biggest waves, though it's concentrating mostly on Latin
ÿÿÿÿÿÿÿÿÿÿÿÿÿ America.
ÿÿÿÿÿÿÿÿÿÿÿÿÿ Vodafone's combination with Mannesmann, while no
ÿÿÿÿÿÿÿÿÿÿÿÿÿ sure thing, would increase the pressure. "I think it will
ÿÿÿÿÿÿÿÿÿÿÿÿÿ encourage U.S. supercarriers to consider international
ÿÿÿÿÿÿÿÿÿÿÿÿÿ footprints more quickly," Zawel summed up.
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To: Tunica Albuginea who wrote (15937)
ÿÿÿÿ From: Doug
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Friday, December 17, 1999ÿ 11:23 AM ET
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Reply #15943ÿ of 15946
ÿÿÿÿ Tunica: Its $ over ATM.!
ÿÿÿÿ In any case, whats the best game plan hereon.?
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