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To: Joe Stocks who wrote (38363)	2/9/2002 9:45:10 AM
From: Larry S.	Read Replies (1) \| Respond to of 53068

Yoy may well be right. Then what about CSCO with 7.3 billion shares outstanding. and revenues of 18 billion - 8% net profit is 20 cents per share. if revenue go up 50% to 27 billion and net profit is 10% get us to 38 cents a share annual operating profit. give it a 30 pe and you have an $11 dollar stock. guess we'd better factor their $19 billion in cash, thats another 2.70 or so. so the top we can expect from CSCO in the next 2-4 years is $15?? It is starting to look like the massive stock dilution for purchases and the splits that we were so ecstatic about, are going to come back and haunt us. Re GLW's future stock price. I stand by my earlier numbers. The intensive R & D, and their expertise in many areas has been the strength and saving grace of the company in the past . I also see, sometime in the next 3-4 years, a return to a premium on a companies evaluations. absent the last part, you are likely correct. larry

To: Joe Stocks who wrote (38363)	2/9/2002 7:48:31 PM
From: Kelvin Taylor	Read Replies (2) \| Respond to of 53068

Good analysis Joe Larry knows GLW well, however, like you the $30-40 is too optimistic. To reach say $30 in 3 years from current levels the price would have to rise 300%. Doubling each year is not in the cards, IMO. Too many of us think just because a stock in the past was trading @ $50-100 it must go back to those levels, right? Nope. When bubbles burst it takes much time to recover. And GLW as with many stocks were full inflated. GLW is loosing money. The company is forecast to b.e. next year. Even if GLW can muster a $0.10 EPS profit @ 7.50 the PE = 150. Not exactly cheap. The real question is current prices a good buy for further price appreciation? IMO, probably so. More chance of 50% upside than 50% downside. In fact the current level would get excellent buy if the stock price doubled in say 18-24 months. It doesn’t have to be 30-40 to be a good investment.