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

To: Rustam Tahir who wrote (9802)	11/17/2000 10:28:19 AM
From: mact	Respond to of 12623

Ciena November 13, 2000 NASDAQ: CIEN Kevin Slocum Head of Telecom Research Charles Gawlak Associate Analyst Ciena Company Update We believe CIENA is positioned to take significant market share from existing carrier transport solutions and produce dramatic revenue and earnings upside over the next few years. The beginning of this share shift should become more apparent over the next 12 months, but we believe it has already begun. We are raising our fiscal 2001 EPS estimate to $0.74 from $0.70 on $1.45 billion in revenue up from $1.37 billion. We reiterate our strong buy rating and believe our 12-month $155 target will prove conservative despite all the valuation fears.

To: Rustam Tahir who wrote (9802)	11/17/2000 10:46:27 AM
From: jghutchison	Read Replies (2) \| Respond to of 12623

Rustam, Good to hear from you. Been lurking? As telco revenues get squeezed due to loss of voice revenue, changes have to be made. Those changes play well in Linthicum, MD. The telcos will gravitate to best-of-breed technology which is Ciena's forte, and begin an accelerated phase out of legacy SONET equipment, and closed systems. Qwest was sold a bill of goods by Nortel and installed SONET equipment when they thought they were getting state-of-the-art stuff a couple of years ago. Rumors of this have been circulating for a couple of years. It took a while for Qwest to wake up and smell the coffee. Ciena has a big foot in the door, and Nortel may well become the second source. Ain't life grand? Jack