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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: tero kuittinen who wrote (743)	7/8/1998 11:27:00 AM
From: Paul Shread	Respond to of 34857

Tero, I'm long NOK.A and ERICY, but I'm also long LU and NT. I don't think land lines are dead by any means, and the internet has overburdened phone networks to the point that demand for basic infrastructure is huge. Plus, there's also the impending merger of voice, video and data, and I'm sure these companies will play a big role in that (I'm long CSCO for the same reason). I think LU has great research and they seem to have a hand in everything. They could use stronger international sales, but I'm sure they'll do something to improve there. As ar as NT goes, I love their cellular infastructure division -- it's grown from nothing to something like 20% of their business in five years. Plus they seem to be doing a nice job stealing business from LU here and there -- the recent Mexico and SBC deals, for example. I'd buy TLAB, but they're a niche player, and that always scares me -- they're usually the first to go when business slows down (I haven't bought QCOM for the same reason -- if CDMA really dominates, NOK.A will be there). I'm hoping CSCO buys TLAB. I like Alcatel, but as telecom is only half their business, I don't see the reason for owning them as a play in this area. Ditto Siemens. Other than that I'm long MSFT, DELL, INTC, China Telecom (CHL) and CELL. I can't quite figure out if I'm going to keep CELL -- it seems to me that the distributors, particularly CLST, which I just sold -- could really get squeezed by falling handset prices and the Asian mess. CELL otherwise seems to do everything right. So that's it -- my entire portfolio. We seem to have at least one common guiding assumption -- that so much of the world's telephone market has yet to be tapped that you could put stocks like NOK.A and ERICY in a blind trust and they'd still be growing 50 years from now. Good luck to you. Paul