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Technology Stocks : Corning Incorporated (GLW)
GLW 88.32-8.0%Dec 12 9:30 AM EST
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To: Wyätt Gwyön who wrote (628)6/30/2000 2:02:53 AM
From: jack bittner  Read Replies (1) of 2260
 
that's a fair criticism. nt last q earned .23 and sdli earned .22, close enough to compare their p/e's by simply noting sdli is 278 vs nt's 68 - 4 times the price per $ of earnings, not 10 times.
why would you pay 4 times as much for a company that fabricates only components (which evidently only I fear may be commoditized by such as furukawa) when for 1/4 the price you can have a company with all the products and services of nt, that can fabricate the components for, and build a terabit network (witness the line nt built for wcom from dallas to longview texas) and that has the resources to finance that construction for the carrier. the only other optical firm in the world big enough to do that financing is lu - but they lack the technology. so if you're a carrier that wants the firm that has the most experience at building a 10 gig network and has the size to finance it, your single choice in all the world is nt. and once it's up, nt is there with a host (pun intended) of IP services to help you operate it. that makes nt uniquely at the heart of the communications revolution. the only firm that matches the centrality of nt is glw, but that is also at an enormous multiple. all that makes nt the biggest bargain around.
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