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Technology Stocks : Ciena (CIEN)
CIEN 203.90-2.8%Dec 17 4:00 PM EST
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To: Larry Unger who wrote (1246)2/19/1998 10:36:00 PM
From: jim schmitt  Read Replies (2) of 12623
 
Worldcom action pulls est. $40MM rev out of both 2Q and 3Q which CIEN will scramble to recover mostly from Sprint and new but smaller customers; assuming $20MM or half is lost each Q will cut 7-10c each Q from EPS reducing Street FY98 to say $1.25-1.30. FY99 EPS 1.80 and after 3Q rev/EPS growth again 50%/40% and CIEN still likely to surprise on upside. Drop in stock may reach $48-50 but prove bottom. Smart investors will look to FY99. Internet bandwidth reqt will double every 3-month (10 fold in year)and represent over half of bandwidth by 2000.Huge market remains and Instanet sellers at $45 will be sorry for not waiting for NASDAQ open.
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