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Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (1489)	10/4/2001 12:28:13 PM
From: Jack Hartmann	Read Replies (1) \| Respond to of 2260

GS note 10/4/01 on GLW EPS (FY Dec): 2001E US$0.37, 2002E US$0.04 Market Outperformer Corning Incorporated GLW, $9.00 Corning provided Q3 EPS guidance of $0.02-$0.06, below consensus of $0.12. Our $0.06 estimate was at the high end of the revised range. Company indicated that the fiber business has taken another decline since the last negative update in late August, and is seeing the first impacts of pricing pressure. Reflecting the significance of this downturn, GLW is idling several of its fiber plants, which it has never done before. We are significantly lowering our estimates and remain cautious on the stock. We believe the stock will stay under pressure for the int. term until GLW can manage down its large fixed cost structure. Jack - no position

To: Proud_Infidel who wrote (1489)	10/5/2001 9:25:19 PM
From: Jerome	Read Replies (1) \| Respond to of 2260

A different viewpoint on GLW from another thread.... To:steve in socal who wrote (17009) From: rgammon Thursday, Oct 4, 2001 5:12 PM View Replies (1) \| Respond to of 17016 Steve, The current market opinion is that tele/datacom is DEAD. Global Crossing got whacked 50% today. The story repeats over and over again for any company that is in or serving the tele/datacom spaces. I, for one, refuse to believe that the end is here for the products and services that we use for our phone calls, data connections, and internet. The growth rates are likely to be somewhat muted for a time, but GLW and other suppliers should do fine in the LONG run. We will need LOTS more fiber over the next 10 years, and GLW is likely to be the primary supplier. Any 'surplus' capacity that the service providers currently have will be soaked up much more quickly than most now realize (in spite of all the mutiplexors that are being deployed to increase capacity on each fiber pair). With only minor hiccups, the internet traffic continues to grow at astounding rates, doubling about every 9 months. Sept 11 events INCREASED net traffic. If I had any cash available to start a new AIM, GLW would rank high on my list. Robert