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Technology Stocks : Oclaro, Inc. (Avanex-Bookham) -- Ignore unavailable to you. Want to Upgrade?

To: Shaw who wrote (1799)	4/5/2001 8:57:02 PM
From: A.L. Reagan	Read Replies (2) \| Respond to of 2293

Labrador $6 may be a good target to shoot for, as my seat of the pants valuation at $8, doesn't factor in, any new deterioration that has happened since the last guidance. If we use $6/share and 15 cents a share in earnings this year, that would give us a PE of 40, which would fit with a more conservative growth rate of 40%. Of course all this means nothing, until Avanex gives new guidance, and numbers. 15 cents may not hold this year, and we don't know what growth rate to expect, going forward, as Avanex works its way through this period. I agree with your analysis. Shorted AVNX today @ $12.26. An 80 P/E (giving the benefit of the doubt on the $.15 eps) in this environment doesn't cut it. I'll be happy to buy shares to cover at 8.00!