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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (51097)	4/27/2001 9:54:39 AM
From: Jason W	Read Replies (1) of 57584

Didn't like the downgrades associated with Corning today. . . though I wonder if some of that money could find its way to our FibreSam over the next few weeks. Rande, GLW will still earn between .90 and 1.00 next year. That translates into roughly a 20 p/e for the next 12 months. Factor in their growth rate of approx. 20-25% annual revenue growth fot the next 5-10 years, and this stock is, pardon the phrase, "almost a a value". The 0.90 to 1.00 for next year assumes bad economic conditions. A recovery would skew the numbers higher, placing the p/e below 20 for the market leader in fibre. GLW is much closer to the "bad" times being behind it, versus in front of it. And as we know here at HOME, the analyst downgrades should be our signal to buy. One more thing: GLW's management has proven to be first class. They are still generating profits while others in their neighborhood are posting losses, i.e. NT JDSU, LU... The GLW management has also been very straightforward guiding the numbers, and managing the slow down aggressively, yet without panic. DISCLAIMER: GLW is among my largest holdings. Jason

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