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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: BWAC who wrote (12627)7/13/2001 10:50:10 AM
From: RobertSheldon  Read Replies (2) of 15615
 
*Just the cynic coming out, but who exactly is selling this stuff on EBAY?*

We track some of this activity . . . several clearance houses have sprung up to fill the transaction needs in just the last six to nine months.

Also, I am familiar with several of the large hardware resellers, especially in the storage sector. Conversations I had with the leading folks out there (Advanced Systems Group, etc. . . .) on recent trips indicated that they have finally seen a slackening of competition in that reseller wannabes that joined the party in 1999 and early 2000 have themselves been forced to close shop. So this is yet another source of the sales of hardware (there was a "near" pyramid scheme developing that was driving prices - now that the sector and SUNW is back down to these levels we are ecstatic - if SUNW gets the Hitachi Unit watch out, this will be a formidable combination).

Anyway, the deals are real, but other research we have done shows that when we come out of this economic mess folks making the purchasing decisions are going to be buying the latest great stuff, not equipment that has been on the shelves. In short, we all need to get ready for another round of inventory write-downs for nearly everyone. We think that the market may have priced this in to some of the companies we are most interested in.

Take care.
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