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Technology Stocks : Ascend Communications (ASND)
ASND 202.96-2.8%Jan 9 9:30 AM EST
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To: Sector Investor who wrote (13756)9/20/1997 6:05:00 PM
From: Chuzzlewit   of 61433
 
Sector, your comments are right on target again! The problem is that the market is very myopic, and this phenomenon is exacerbated by momentum players. As I see it, ASND is a high-growth company well-positioned in a high-growth industry. Dwelling on the day-to-day news or analysts' upgrades and downgrades can easily make an investor lose sight of the key issue: is this company's growth story intact. The CSCC acquisition was an excellent strategic move by ASND that will pay enormous dividends in the future. Increasing competition is an inevitability for every company that isn't a monopoly, and should have been anticipated by every investor. This business will probably see increasing consolidation which will mitigate the competitive pressures to some extent. This market is anticipated to grow at about 40% per year, and I expect ASND to grow at least as rapidly as the market. With the stock trading at about 22x the next four quarters eps the stock should appreciate rapidly once investors start looking at the big picture and forget speculating on the current quarter's earnings, and their obsession with the implications of back-loaded sales.

I just had to get this stuff off my chest because I'm getting awfully sick of and tired of the analysts who feed off of the gullibility and naivete of investors.

Regards,

Paul
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