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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 242.33

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To: Glenn D. Rudolph who wrote (139663)	2/21/2002 5:24:43 PM
From: H James Morris	Read Replies (1) of 164684

The last person to hear of the optical glut was "boom boom" Billy Harmond. >>A more recent example is beleaguered optical telecom gear company Ciena (CIEN: news, chart, profile). The company announced two rounds of layoffs in the past six months. It warned earlier this month that first-quarter sales would drop 50 percent from the same period a year ago. And just as it makes its formal quarterly announcement this Thursday, the company announced an all-stock purchase of ONI Systems (ONIS: news, chart, profile), another optical fiber company. At $8.73 a share, Ciena has a market cap of $2.9 billion. This is not to say that Ciena will go the way of Sunbeam. But given that the telecom industry is still digesting a glut of supply, does an investor want to take a chance?

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