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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: jghutchison who wrote (9062)	5/30/2000 3:16:00 PM
From: jghutchison	Read Replies (2) \| Respond to of 12623

Corning Shares Rise After Analyst Reiterates `Buy' Rating By Justin Baer Corning, New York, May 30 (Bloomberg) -- Corning Inc.'s shares surged as much as 11 percent after a Merrill Lynch & Co. analyst reiterated his ``buy'' rating on the stock and said he's confident the company can meet his profit and sales estimates. The biggest maker of glass used in fiber-optic networks climbed 17 5/16 to 185 5/16 in midafternoon trading after reaching 186 1/4. The stock has more than tripled in the past year. In a report, Merrill Lynch analyst Steven Fox said he expects Corning's per-share earnings to rise almost 40 percent this year and 25 percent next year. He forecasts sales to increase by 40 percent this year and 20 percent in 2001 on escalating demand for Corning's products, including optical fiber and parts used to transmit information across networks. ``This is an excellent company that's in the right markets with some technically superior products,'' Fox said. ``They have a 50 percent-plus share of the fiber market, which is sold out.'' Shares of Ciena Corp., a maker of equipment that boosts capacity on fiber-optic networks, climbed 14 5/16 to 114 1/16. New Focus Inc., which sells optical parts, rose 12 3/4 to 60. Corning based in Corning, New York, had sales of $4.3 billion last year. From this mornings Red Herring article: "For every 1 percent decrease in the price of bandwidth, there's a corresponding increase of 1.5 percent in demand, according to Lucent researchers. This yields a net increase of 0.5 percent in the market." For anyone who has ever studied nuclear physics, the above formula is analogous to the equation for a self-sustaining nuclear reaction. Yes indeed. The Optical Networking revolution is now just beginning. Demand is insatiable, and it is growing rapidly. In my earlier white paper published here in February, I stated that one could purchase the stock of just about any company in the sector and do well. By making a judicious selection, one can do extremely well. Buy the best and forget the rest! Jack Hutchison