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Strategies & Market Trends : MP - Market Pulse -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (950)	7/28/2001 11:02:28 PM
From: Zeev Hed	Respond to of 1328

Mike, I think they will survive all right, but it is extremely tough to cut revenues by 50% without major damage to the infrastructure and thus wreck the structure that provided growth. One of the major problems with "photonics" is still a great lack of "homogeneity" and the lack of a consumer end market of any size. It is all capex, and as such will be subject to the ravages of "the cycle" much more than companies with consumer end demand. To borrow a phrase we used to use in the semis, when the telco's catch a cold, their suppliers catch pneumonia. In that respect, JDSU is no sui generis. Zeev