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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (10083)	5/9/2000 12:27:00 AM
From: Dooker	Read Replies (1) \| Respond to of 24042

As I look at Cisco's earnings over the years, and also its stock price, a few things stick out. Starting with 95-96, when it had 59% sequential annual earnings growth, followed by 48%,25%, and most recently 29%. Next two years are estimated to be 36%, and 29%. So in the face of clearly slowing earnings growth, what has the PE done? Defying gravity, it has gone from about 42 to 185, all in the face of less growth. Add the fact that they have a lot of dead end revenue streams, and it adds up to a big bubble. JDSU numbers at least better, with increasing growth (45%,42%,111%, and estimated next year at 113%. Fiber optics are definitely a better sector than whatever Cisco is in.)I don't know if its earnings growth is enough, or with other high fliers like NTAP or BRCM. Momentum has played a huge role in these run ups. I hope its not a lesson too late learnt. Regards, Steads Sure hope the US Dollar and Gold stay where they are.

To: Boplicity who wrote (10083)	5/9/2000 12:56:00 AM
From: Hank Stamper	Respond to of 24042

P/Es well beyond historical norms are sustainable only as long as conditions are perfect including no inflationary pressure and low interest rates. Not the present conditions. In fact, inflationary pressure is on waxing as are rates. That, then, says that we will continue to see valuation contraction. "If the market decides that CSCO will have to be valued at a lower price, so will other stocks. " When the tide falls, all boats follow. Ciao, David Todtman

To: Boplicity who wrote (10083)	5/9/2000 9:07:00 AM
From: hlpinout	Respond to of 24042

JDS Uniphase in China deal By Scott Morrison in Toronto Published: May 8 2000 17:32GMT \| Last Updated: May 9 2000 02:11GMT JDS Uniphase, the world's largest fibre optic components maker, has expanded its global reach and manufacturing capacity by acquiring a small but rapidly growing Chinese optical components manufacturer. Terms of the company's first investment in China were not disclosed, but the company said its acquisition of Fujian Casix Laser, which closed recently, would be accounted for as a purchase. JDS Uniphase said Fujian Casix Laser was a profitable operation that was previously owned by FEH, a private holding company controlled by the Fujian provincial government. Fujian Casix Laser supplies crystals, fibre optic components and optics for telecommunications networks. JDS Uniphase also said the Chinese company's advanced materials science expertise would be a key to developing a new generation of components for optical networks. Optical networking has become one of the hottest market plays as investors bet on companies vying to develop technology to build the next generation of fibre optic networks. Industry giants such as Lucent Technologies and Nortel Networks are also very active in developing similar components. Duncan Stewart, an analyst at Tera Capital, said JDS generally discloses financial terms of its acquisitions and it would appear Chinese authorities had insisted on not revealing details of this transaction. He also noted that the Chinese government generally insists on technology transfers in these types of situations, although the low output lasers involved are not considered to have military value. Jozef Straus, JDS Uniphase's co-chairman and president, said the acquisition was an important move in the company's global manufacturing strategy. Anthony Muller, the firm's chief financial officer, said the Chinese company would provide high volume, low cost production and it would serve as a platform for the global market. The company plans to make additional investments to increase Fujian Casix Laser's manufacturing capacity. The transaction was the latest in a series of recent acquisitions by JDS Uniphase, formed through a combination of Canada's JDS Fitel and Uniphase of the US. JDS Uniphase has made several smaller purchases and is currently in the process of acquiring US rival E-Tek, in a deal valued at more than US$15bn. E-Tek is developing manufacturing facilities in Asia, but the Casix acquisition would give JDS Uniphase its first presence in the Chinese market. Shares in JDS Uniphase, which have risen about 600 per cent in the past year, closed Monday's trading session down 5.8 per cent or $5-7/16 to US $88-3/8.