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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: Rajiv who wrote (1081)	12/10/1997 7:31:00 PM
From: Tom Stone	Read Replies (1) \| Respond to of 12623

MAYBE!You could be right with this very negative tech market, but you could see this stock stay in the 50's. I follow the Alex Brown analyst reports since they seem to be closest to the situation. Their Nov 3 report was very positive with statements like: (1)"We believe Ciena has increased its competitive lead over the last six months" and (2) "We have increased our confidence that 1998 will be a key new product and new customer year for Ciena". They are positive on AT&T.Also, they projected revenues of only $117 mil for this qtr and $.34 . However, despite all of that stuff, I think the major thing is that the high growth investors(funds, etc.)hopefully do not perceive some failings on the part of Ciena. There is little patience with sales being soft and earnings not meeting projections. I personally believe Ciena has a very bright long term future and trying to guess if its going down 20% at this time is purely a guess. It has withstood alot of selling pressure from current holders and is acting far better than most. If the AT&T contract hits big and we see a couple of others this could be a stock they carry to 80 or even 100 in the year ahead. It may not make sense to some, but I thinkwe will see projections for 98 raised in the months ahead and that is what the big investors want to see. How many firms out there are growing like this one - sure we won't grow at 500% rate, but 50% in sales (as AB projects) for 98 isn't all bad. Tom