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Technology Stocks : BAY Ntwks (under House) -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (5449)	4/20/1998 10:34:00 AM
From: adam hefian	Respond to of 6980

DLJ has always been right when it comes to BAY.Anyone who is -ve about BAY will 99.9% of the time turn out to be right.I totally agree with DLJ that BAY will head to the low teens.At 23 it is way overvalued for the screw-ups it has performed and that it will further show a deterioration in the June qtr.With margins coming down on hubs & routers,the only thing it has left is its new product Accelar which will not make-up for the June qtr,and House is solely relying on it.Maybe when it gets to 15,LU will decide to move in and pay $18,since that is what BAY is worth,i wouldn't pay more than that.DLJ is correct to point out that BAYS failure this qtr was due to CSCO taking market share from BAY big time.House ought to be sincere about this and should not hide it.BAY is toast and CSCO is the leader.House might as well acknowledge and accept defeat.He has failed.Once the disappointing June #s are released look for House going into hibernation.