Larry,
Here's the whole problem in a nutshell "Corning's revenues a year ago were approaching $8 Billion, this year likely $4 Billion. The company was being sized for a business of $10 billion in revenue "
Throw in a dose of GLW is only fiber telco related misapplied thinking.
Stir with market sediment.
Paint the compnay like a target. And become the target.
The being sizxed for double the current revenues is apparently pervasive in the current state of tech stock land. Of course we are somewhere in the middle of a downsizing process. Exactly where I don't know. You'd think well into it since its been ongoing for over a year now.
Lets see? The process goes? Build up, sales fall from bubble peak, losses result, downsize, downsize some more, reduce capacity, shortages looming when demand returns, sales rise from depths, earnings grow, stock price rises, company builds capacity for $10 Billion revenues, sales fall, losses result, downsize, reduce capacity, shortages looming, sales rise, earnings grow, stock rises, compnay builds capacity.......................................
Where are we in that cycle? |
