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Technology Stocks : Nortel Networks (NT)
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To: OrionX who wrote (13829)4/30/2004 9:59:37 AM
From: AreWeThereYet  Read Replies (1) of 14638
 
OrionX,

I agree except the following clarifications:

1) buying opportunity? Probably not. Trading opportunity, definitely yes. Traders like uncertainty, investors hate uncertainty. Check out how many more buying opportunities Xerox had after SEC probe back in April 2002.

2) Nortel used the same cooking technique as Xerox but in the opposite ways. Nortel is building up a cookie jar for better future results, Xerox is stealing candies from the future to make current result better. The end result we can no longer trust the income statement of the company.

3) IFIC Xerox was in the black during the entire 4 years cooking period, Nortel was losing money back then. Is Nortel really making money in FY03? Or it is just creative bookeeping.

I am 100% sure Nortel will prevail but I don't think it is a buying opportunity now without knowing the some answers (see my previous post) - except for traders.
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