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Technology Stocks : DIGL... Digital Lightwave.... Making Waves....
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To: mozek who wrote (217)12/24/1997 12:50:00 PM
From: ahhaha  Read Replies (1) of 934
 
An examination of many tech charts show similar sustained irrational selling. You never know if this market wide psychology is masking a change in fundamentals for an individual company. My philosophy is not to buy falling stocks. They must base first and then start coming out of the base. I don't mind buyind a short term top then. You're right, you should wait.

If you believe that fibre is in the early stages of a nascent market, then this company will be a leveraged beneficiary of future growth. 100% growth over the next several years is a reasonable expectation even with the inevitable imitation that is on the drawing boards now. DIGL has a substantial lead and has the established product. Their products are very nice to work with. If the company can earn $.50 next year, which I guess is in doubt right now, the shares are trading for a p/e of 26. That's a 4:1 discount to the growth rate. It isn't an issue of earnings visibility unless you believe that fibre will be pre-empted by wireless, and that just isn't possible in the forseeable future. When cable modem really gets going the $100 billion that will be invested in fibre infrastructure will certainly trickle down to DIGL. The investment community always has a problem with vision since it takes guts to believe your eyes.
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