<Nokia-- Love the company, love the sector, hate the valuation. As I recall, I sold it because of an insane price to free cash flow (sorry, don't have the relevant numbers with me).>
Yes, and that attitude has cost us all a lot of profits. Well, we hope to say I told you so, but for now we have the explaining to do.
I thought about entering an order for QNTM last night. I'm near convinced the split is goood, but not convinced the market will not get spooked before the deal.
It's interesting that everyone is so convinced the HDD piece will fall. Maybe they are really so aware of this that they've given a big discount?
Got this e-mail from Antec this morning:
Mark.....
In follow-up to your Email, you should know that ANTEC's core business is built
upon hybrid fiber coax products and services for the broadband transport
industry. ANTEC has the most complete line of products from headend to home.
ANTEC is the exclusive domestic distributor of cable telephony and modem
products from the Arris Interactive joint venture with Nortel Networks and our
product positioning for voice over IP networks is very strong. Of course, the
world will have to first agree upon universal standards before IP telephony
enjoys the same level of service quality as now experienced in the constant bit
rate (CBR)Public Switched Telephone Network (PSTN) and this is why AT&T has
decided to roll-out CBR technology in their ten market areas first using the
Cornerstone product. Our product strategy for the Cornerstone cable telephony
products from Arris is very clear. Provide a stable CBR product now, allow hand
off to a packet network if a customer wishes and then gracefully migrate to IP
telephony as appropriate with out stranding any investment. We have announced
that we will trial a packet port product next quarter, but it is important to
understand that the future of IP telephony is a standards question more than a
technology barrier.
I don't comment on business with specific customers, but we view the potential
merger with AT&T as very positive for ANTEC. MediaOne has done some cable
telephony work with ADC and Tellabs. However, five of the six cable operators
in the US are using the ANTEC/Arris Cornerstone product. Today over 2,000,000
subscribers have access to Cornerstone.
Our LaserLink TransPlex DWDM 8 channel system is designed and being used for
local loop applications and has been well received by many cable operators.
AT&T will be very concerned about quality of service as they roll-out local
service under the AT&T brand name. ANTEC and Arris clearly have the most
experience, the most customers, the most stable technology and a long term
relationship with AT&T that should position us well for the future.
I hope this answers your questions.
Jim Bauer
I think this company will get a lot of money from the cable pie. T is going to spend billions and the others will be busy too.
Going on holiday to Fiji for 2 weeks today. Hope you can keep the market in good order while I'm gone.
Regards,
Mark |
