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Technology Stocks : Ciena (CIEN)
CIEN 200.92-1.6%Dec 1 4:00 PM EST
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To: Glenn D. Rudolph who wrote (3252)9/17/1998 11:14:00 AM
From: gbh  Read Replies (1) of 12623
 
My concern is I own too much of CIEN.

Glenn, at this point I think we all feel this way. Some of these estimate cuts are brutal. Even if year over year revenue is the same (and I think revenue will grow next year), this is clearly indicative of the fact that sales and marketing expense will increase, and gross margins will be coming way down. Add to this the need to re-price employee options, and its not a pretty earnings picture going forward.

And just to fan the fire a little, how about tax loss selling. I think there will be more pain to endure.

Gary
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