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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (46597)	5/11/2001 12:25:08 PM
From: Jacob Snyder	Respond to of 70976

cute. eom.

To: Gottfried who wrote (46597)	5/11/2001 1:38:51 PM
From: John Trader	Read Replies (4) \| Respond to of 70976

Off Topic: It seems to me that "buy on the dips" may be the new trend, that is one way of explaining why the Nasdaq is holding up so well at any rate here in the short term. It seems to me that there are many positives for this market here, but I recognize there is a valuation argument for techs going lower (in fact a lot lower for most techs if we are talking trough valuations). I think that the consumer is holding up is more of a good thing then a bad thing (e.g. risk to 50bp rate cut Tuesday). The best returns in stocks are often when your timing (through luck or whatever) in the market is good, the growth prospects for the company in question are good, and the multiple is low for the stock. Before I continue, let me mention that AMAT is my largest holding, so I am not at all bearish on AMAT here. But I want to mention another name, to see if any of the folks on this thread have any comments on it. The stock is Corning, symbol GLW. The main business is fiber optics, they supply 40% of the world's fiber optic cable. It is not a business that is as solid as chip equipment, in my opinion. In fact, there is a considerable debate as to how much we over-built the internet infrastructure, how much "dark fiber" is in the ground, and for the fiber optic components business they have, how much of an inventory problem there is, and how much future demand there will be. However, the valuation seems quite reasonable to me here and the long term growth prospects seem very good. GLW strikes me as a stock that has a limited downside with a not so limited upside. Overall it seems like it has a good risk to reward ratio here, IMHO. Any comments on this one? Am I totally missing something? FWIW Briefing.com had a positive article on Corning recently. I realize this is the wrong thread for GLW, I pose the question here only because I am more familiar with the people and the level of talent here. I have been picking up shares lately, but I am still thinking hard about this one. John