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Technology Stocks : Alcatel (ALA) and France -- Ignore unavailable to you. Want to Upgrade?

To: zbyslaw owczarczyk who wrote (2878)	1/12/2001 7:43:58 AM
From: zbyslaw owczarczyk	Respond to of 3891

ALCATEL, positioned better than its competitors (AOF) - Alcatel seems to evolve/move with counter-current since two meetings in spite of the bad news which flows on the sector of the TMT since the beginning of the week. According to A. Chassagnol of IC Bourse, Alcatel draws its pin from the play because in particular of diversification of its activities. DECRYPTAGE The sector of the TMT was once again not saved lately by the bad news which gave place to significant corrections on the European markets with the image of Nokia (Paris: 5838.PA - topicality ), which announced in middle of week of the figures of sale of disappointing mobile terminals, involving a fall of the course of more than 8%. It is then Motorola which, at the time of the publication of its results of fourth quarter 2000, indicated to suffer from a significant fall from its orders from semiconductors and mobile telephones. Finally one learns in the " Echoes " this morning that Nortel considers the removal of 4000 stations. For A. Chassagnol, it is necessary to compare what is comparable. Thus, whereas Nokia and Motorola, respectively number 1 and 2 of the mobile sales of terminals, carry out sales of about 100 million mobile telephones, Alcatel sells only approximately 20 million mobiles, which returns its exposure to the deceleration of the demand much lower. Moreover, Motorola suffers from the crisis which touches the electronic components, sector of which is completely absent Alcatel. A. Chassagnol recalls in addition that on arrival of Serge Tchuruk to the direction of Alcatel, this one had provisionné approximately 25 billion euros to restructure the group with for principal objective modernizing its production equipment (the résaux i.e old ones) before launching out in the optical networks and the ADSL. It is also the strategy which had adopted Ericsson (Paris: 12905.PA - topicality ) while provisionnant for reorganization of significant amounts the last year. Nortel with as for him adopted a different strategy and is seen today constrained to modernize the manufacture of the old networks, modernization which passes obligatorily by a phase of reorganization that starts the Canadian in this moment. For A. Chassagnol, the market holds account today strong points of Alcatel which enable him to be distinguished from its competitors. For the analyst, the two principal strong points of the group of French telecommunications are the diversification of its wallet produced like its presence and its reinforcement on the American market which, in spite of signs of deceleration remains the first world market all the same. Lastly, A. Chassagnol stresses that the stock exchange ratios of Alcatel are lower than those of its competitors. Moreover, even if the margins of the group are slightly lower than its pars, Alcatel is improving them contrary to those. These are thus all these elements that applaud the investors who position clearly with the purchase this morning. It should all the same be recalled that the title is also supported by the three consecutive meetings of rise of the NASDAQ . (E.C) fr.biz.yahoo.com