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

To: Baldwin who wrote (7027)	4/23/1999 10:47:00 AM
From: Nevin S.	Read Replies (2) \| Respond to of 12623

Interesting note from Hambrect & Quist report on PMCS. PMCS is a leading chip designer in the telecom and data networking field that just reported record earnings and design wins. Hambrect & Quist 4/15/99 - PMC Sierra Inc. ..."The increasing ubiquity of the broadband services and access equipment, such as cable modems and DSL, is taxing core infrastructure and necessitating significant new builds and extensive upgrades with high capacity, highly functional equipment that can accommodate multiple bit rates and protocols. Moreover, the growing prevalence of competitive carriers and the needs of incumbants requires new classes of gear. To that end, management during the conference call highlight their success with start-up equipment companies(e.g. Fibex, Sentient, Lightera, Omnia). Design wins at these start-up vendors improves PMCS's position as these companies either grow or are acquired by more traditional system vendors." .... Interesting how H&Q mentions Lightera and Omnia in a list of companies offering leading edge optical technologies as a gateway to new growth markets to a leading edge chip designer. In my opinion this tends to legitimize these acquisitions by CIEN because if they didn't have product offerings ramping up, they wouldn't represent growth markets for PMCS.