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Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (809)	9/13/2000 12:34:20 AM
From: FlameMe	Read Replies (1) \| Respond to of 2260

Do you think the slowdown is real or a canard? this may help the sector tomo. Tuesday September 12, 5:26 pm Eastern Time Savvis to build its own fiber-optic network NEW YORK, Sept 12 (Reuters) - Savvis Communications Corp. (NasdaqNM:SVVS - news), which provides data networking services to businesses, said on Tuesday it will build its own fiber-optic communications network that will replace the lines it leases from other service providers. Building and managing its own network will allow Herdon, Va.-based Savvis to reduce its expenses, better control its growth and provide new services to customers, the company said. The fiber-optic backbone will be in place by the fourth quarter of 2001. Savvis said it will use 20,000 route-miles of fiber from Level 3 Communications Inc. (NasdaqNM:LVLT - news) and buy equipment and services from Nortel Networks Corp. (NYSE:NT - news) Terms of the deal were not disclosed.

To: Boplicity who wrote (809)	9/13/2000 8:03:43 AM
From: t2	Read Replies (1) \| Respond to of 2260

GLW is NOT a part of any optical bubble. Trailing PE for GLW is 108 while the PE for fiscal period ending Dec2000 is about 88. I have put the site which gives the PE based upon operating earnings. I am expecting earnings surprises from this company as well. Just look at the growth rates for this company in the last 2 quarters and you will might conclude that this company is relatively undervalued for this sector. It also becomes the the second biggest component supplier to LU/NT/CSCO when the JDSU/SDLI deal closes GLW's growth rate has accellated in the last 2 quarters. They blew away estimates last quarter (preannouncing positive earnings once). I think the selloff in NT, GLW ends today. IMHO of course. wsrn.com BTW--NT's PE is about 89 for Dec2000 but it is developing cutting edge technology and has been revising its growth rate upwards. The growth rate is also accelerating and it would take a while for deceleration. There are probably big barriers to entry in what NT does. There is certainly more risk in stocks with PEs of about 30 to 50 which are not in a sector that is in the early innings and which rely on costing cutting in a big way to meet growth objectives.