I think market and analysts as well as mutual fund managers are bunch of morons and do not really understand the underlying business well. They think that a company with higher revenues always keeps rolling. May be true, but does not mean other players have no chance.
For example, this guy on MS investor JJJuBAK declares a victory for CSCO, in TELCO business based on stock price of CSCO. If you look at recent wins, only one CSCO has in the bag is SPRINT, big deal.
Look at the negatives, they lost ATM from GTE to ASND, they screwed up with ATT big time recently. Two most exciting next generation Fiberoptic multimedia backbone builders QWST, WILLIAMS, LCIand even WCOM have chosen ASND equipment. Even the DT choosing for their DFN network is positive, they might place a big order in future. My point is that ASND appears to be executing in their future plans very well. Everybody will jump and praise ASND, when the stock price is 80-90 and will claim that ASND is the king of WAN and so on.
Before DELL became a big company they were also fighting big players like IBM, HWP etc. That did not preclude them from growing. Except MSFT, no other company has the economies of scale or monopolistic power to muscle other players. You know market is stupid short term, but rational in long term.
This is my own opinion.
BR. |
