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Technology Stocks : Nortel Networks (NT)

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To: William Hunt who wrote (9865)	2/16/2001 7:33:50 PM
From: A.L. Reagan	Read Replies (2) of 14638

This guy Moritz is a one-note Johnny. The vaunted CIEN Core Director switch is like a $100-$150 million (annually) product line. NT "lost" 1,800 million in expected sales for one quarter. You don't need an abacus to figure that competition from CIEN, if any, is not a material component of the sales shortfall. Indeed, it is insignificant. So, I'm a little tired of the mathmatically challenged Mr. Moritz. I suppose it makes for good press. Having said that, I sold 70% of my NT position today and rolled it into other optic companies that were getting slammed as well. I will probably sell the other 30% if we get a DCB next week. I will not be around the third time NT disappoints (let's see, it will be the Asian slowdown next time around) nor the fourth time, when it delays shipping of the new product line on account of "difficulties deploying field engineers for installation" (since presumably a big whack of that crowd is getting pink-slipped). Lastly, my guess is that WCOM is one of the major carrier customers with frozen 2001 capex.

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