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Technology Stocks : Meade Instruments Corp MEAD
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To: RocketMan who wrote (42)3/23/2000 10:18:00 PM
From: jlib  Read Replies (5) of 175
 
Do you have any thoughts on whether the problem Terabeam set out to solve in '97 is now diminished by the proliferation of unlit fiber in the very urban areas it would likely be used in. This has got to be more expensive in the long run than most laid fiber solutions. I kind of wonder if it won't end up a niche thing, useful when there is no alternative but not the cost effective choice.

Since Terrabeam isn't at the stage of talking about costs yet (their web site mentioned just starting beta testing in Seattle this month) and since Meade is silent about their financial arrangements it is difficult to tell if such an increase in Meade is justified going forward. The comment from the company on Dow Jones News today concerning their current roadshow was as follows:
  Mark Peterson, vice president and general counsel
  at Meade, said increased excitement about the TeraBeam
  deal is driving the stock up. "We are not really sharing
  additional information about TeraBeam," he said. "Most
  of what they are talking about on the road show is our
  core business."  Peterson said more information about 
  the TeraBeam pact will come in a few weeks.


Since any significant revenue from supplying lenses to Terabeam is months or years away I think few would be willing to hold this stock at these stratospheric levels if they were recent buyers (i.e., today) with both the technical and historical likelihood of a strong pullback. Everyone knowledgeable I have spoke with says Meade's products are outstanding so I can only say good things about their telescopes. With earnings coming out soon (even if good), that will only highlight the discrepancy between the value of the company and the price of its stock. I am curious if any others here who follows Meade bought it in the last two days as anything more than a momentum play? Do you really expect to hold it through earnings? I really would like to know because the chart has "short me" written all over it, especially since the company has basically said today the increase is just a speculative frenzy.

Best,
Jimmy Liberato
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