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Technology Stocks : Advanced Fibre (AFCI) ** IPO -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (556)	7/1/1998 9:47:00 AM
From: fut_trade	Respond to of 3299

Truff, now that we're getting ready to plow through 17 - are you still buying?

To: KM who wrote (556)	7/1/1998 9:49:00 AM
From: MangoBoy	Respond to of 3299

DJ 06:34 MERRILL CUTS ADVANCED FIBRE TO LONG-TERM ACCUM FROM BUY DJ 06:34 MERRILL CUTS ADVANCED FIBRE TO NEAR-TERM NEUTRAL FROM ACCUM DJ 06:20 *M. STANLEY CUTS ADVANCED FIBRE TO NEUTRAL FROM OUTPERFORM

To: KM who wrote (556)	7/1/1998 9:51:00 AM
From: SteveG	Read Replies (2) \| Respond to of 3299

Falling knife CEO doesn't resign for nothing. China weakness due to AFCI specific issues such as internal mgmt reshuffling - lower business at GTE - (major problem is slower penetration of RBOCs) company needs to restructure itself to sell to large carriers (needs to accelerate R&D) estimates are getting halved around the the street with many downgrades, some 2 rating levels. Careful, could get worse.

To: KM who wrote (556)	7/2/1998 5:13:00 PM
From: dougjn	Read Replies (1) \| Respond to of 3299

Well, Truff, I joined you today at 17-7/8, a hair over your recent add price. I think that (unlike PMTC, which I also bought today) this one will have some more roaches crawling out of its accounting statements. Whiff's of management, how shall we say, "lack of candor" with investors. When those things collapse, they tend to keep on doing it for a while. On the other hand, however, this company is in a hot niche in a super hot sector, with some great products and a great new product on the way (though apparently too late to keep GTE in the fold this go around). (Its a digital local loop product that can not only start real low and cheap, like AFCI's current products, but also scale beyond the 2000 line limit of its current products.) Very attractive to US RBOC's. All in all this is a primo takeover tarket. Among the most primo in the telecom equip. sector, I should think. The market thought it was a likely target when the stock was around 37 (so it ran up to 42 following the DIGI takeover announcement). Its a steal at 18. So could go out at 28-32 I should think. Soon wouldn't surprise me. Yes, Tellabs could do it. The market would react positively. Digestion problems what with Ciena (which I hold) and Coherent, but also a unique opportunity. I think Lu, Ericy, and Noka could also be interested. Perhaps also Nortel. Doug