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

To: Bill Holtzman who wrote (11742)	7/24/2000 8:39:20 AM
From: Jack Hartmann	Read Replies (5) \| Respond to of 24042

TSCM view on the GLW/NT Holy Optical 7/24/00 8:14 AM ET Today's talk on the potential stock swap between Corning (GLW:NYSE) and Nortel (NT:NYSE) could send shock waves through the industry. Nortel is a major customer to JDS Uniphase (JDSU:Nasdaq), and if Nortel and Corning do in fact marry, the risk would be that Nortel's business would go to Corning rather than to JDS Uniphase. In the most recent quarter, Nortel was 16% of JDS Uniphase's sales. As traders, we're balancing the potential impact on JDS Uniphase's bottom line vs. the demand created by the S&P add and, more importantly, a robust business. Having said that, there is now a potential fly in the ointment, and we're in the mode of erring to the side of caution. We're lightening up some and will accept the consequences if this is a nonevent. Is this the end of the world? No, we don't think so. It wasn't over when the Germans bombed Pearl Harbor, and it's not over now. Long JDS Uniphase, Nortel and Cisco ************************ I thought demand was strong that NT had to buy from JDSU. Jack