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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: KMcKlendin who wrote (20640)	6/23/2001 12:50:05 AM
From: The Ox	Read Replies (2) \| Respond to of 24042

witcapital.com Full pdf link above. Summary: JDSU: Raising Rating We believe JDS Uniphase is making its cycle low and we are raising our opinion to strong buy from buy. Customer activity levels are unsustainably low and in our judgment the company's September-quarter guidance will prove the low. Capacity cuts, headcount reductions, the latest inventory writedown, product realignment, and the recent promotion of Greg Dougherty to Chief Operating Officer come together at a level in the shares, which we believe is a compelling buy point. We are not pointing to specific industry datapoints that are signaling an imminent change to JDS' fundamentals. In today's separate industry note we discuss our views on an improvement in the offing for carrier fundamentals and our reasoning for better prospects ahead for many of JDS' customers. Our view will be controversial, but we believe the shares of most stocks in the photonics sector have reach levels where it is time to be controversial. We believe the shares may double from current levels over the next 12 months as an improving trend takes hold in the December quarter and beyond. There is no change to our estimates.