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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (8636)	9/27/2000 6:24:55 PM
From: MikeM54321	Read Replies (1) \| Respond to of 12823

Thread- A couple of ATT and Verizon comments from CNET: AT&T, for example, says it invested $13.5 billion in 1999, and is on track to invest between $13 billion and $14 billion this year. The company's total revenues will be no less than last year's, a spokesman said. "We're not trending as the (pessimism) is suggesting," said spokesman David Caouette. The company has nevertheless scaled back its profit expectations, based on disappointments in its business services unit and falling returns in the long-distance business. Verizon Communications says it too is very comfortable with its investments, noting that revenues in its data services business are growing by 30 percent a year. The company is investing a total of $18 billion in its infrastructure this year. "We've invested in the fastest-growing areas in communications," said spokesman Dave Frail. "We feel pretty good about putting dollars there." I just re-read a Merrill Lynch report(not related to the above) on capital expenditures for telecom companies up to and including Q200. If anything, ML underestimated cap ex spending by the SPs. 94% of SP have met or increased cap ex budgets projected late last year. And ML projects that 53% of cap ex spending is coming in 2nd half 2000. Should be interesting to see what Paul Sagawa says tomorrow in his report. IMO, he can/should single out certain optical players as wildly overvalued. There may be a chance the WS spin on it will be to take down ALL the telecom players, optical or not. Even the SPs will most likely be spun in for good measure. The final nail has to be driven in soon I hope. This is getting tiring. -MikeM(From Florida)