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TODAY: Equity research columnist Dave Sterman discusses what investors
might take from news concerning network bellwether Cisco (CSCO), John Filar Atwood looks for valuable ideas among the debris of the telecom stock scene, and columnist Ben Mattlin writes about a trio of South Korean telcos. ======================== Sponsored by ========================= Get 10 FREE issues of Investor's Business Daily. More than just a newspaper, Investor's Business Daily is a unique research tool designed to identify winning stocks with insightful charts and ratings you can't find anywhere else.This offer carries no obligation and there's nothing to cancel. http://ibd.infostreet.com/cgi-bin/freeoffer.cgi?source=A362GGL ============================================================== Below --------- Investment ideas Broker reports Sponsored report ============================================================== Investment ideas ----------------------------------------- 1. True value: Strength lurks behind poor valuations Solid historical performance suggests these equipment stocks may continue to provide value in 2002 by John Filar Atwood, equity research columnist You really can't blame investors if they would rather just leave the telecom equipment industry alone until 2003. This year, communications equipment shipments fell by 22 percent, the largest single year drop since the 1950s. With capital spending budgets getting slashed for 2002, analysts are forecasting another three percent decline in equipment sales next year. If that happens, it would be first time ever that communications equipment sales dropped in two consecutive years. Investors willing to stick with the industry will have a tough time singling out companies that can provide value under existing conditions. Click here to read more: http://www.thetelecommanalyst.com/article.asp?docid=5406&;nd=1225 2. Outlook 2002: Will price wars scramble wireless? Investors may have to brace themselves, but service may outpace price in customers' values By Dave Sterman, equity research columnist Who'll be the first to blink? Analysts aren't really focused on this issue yet, but price wars may be looming in the wireless sector, scrambling the sector and confounding expectations. Sprint PCS (PCS), Nextel (NXTL), AT&T Wireless (AWE), Verizon (VZ), Cingular (a joint venture between BellSouth (BLS) and SBC (SBC)) and VoiceStream (a unit of Deutsche Telecom (DT)) are close to completing their respective nationwide expansion plans. That means that consumers in almost every major metropolitan area now have at least three or four wireless carriers from which to choose. And that means it won't be too long before these firms start scrambling to poach each other's customers. Unless these carriers can show remarkable restraint, price wars could soon become the dominant theme in the sector. Click here to read more: http://www.thetelecommanalyst.com/article.asp?docid=5306&;nd=1225 3. 2002 network outlook: All eyes on Cisco (CSCO) A plethora of smaller companies are nipping at its heels, but all they may get is bone By Dave Sterman, equity research columnist What do Juniper Networks (JNPR), Foundry Networks (FDRError! Hyperlink reference not valid.Y), Extreme Networks (EXTR) and Riverstone Networks (RSTN) have in common? They all sport a market capitalization in excess of $1 billion (despite the massive tech sell-off of the last 18 months), and they all toil in the looming shadow of Cisco Systems (CSCO). Although growth investors continually check the pulse of these other tech upstarts, they can't do research in a vacuum. As goes Cisco, so goes these networkers. To be sure, these companies can try and wrest a few points of market share from Cisco. But if the market for switches and routers doesn't rebound sharply, share gains will result in only a minor revenue uptick. And no one has greater visibility into the direction of the networking market than Cisco. So when Cisco CEO John Chambers speaks, the sector listens. Click here to read more: http://www.thetelecommanalyst.com/article.asp?docid=5288&;nd=1225 4. International wires: Korea advancement Three telcos in Korea are well positioned for long-term growth and attracting analyst interest. By Ben Mattlin, equity research columnist A recent report from CLSA Emerging Markets (Dec. 13, 2001) hailed South Korea as "one of the world's leading telecom markets." The report cited the rapid growth of both cellular and broadband in this nation of 50 million, and ended with the rhetorical question, "Isn't it an obvious market in which to be overweight?" A quick screening of international telcos with an average analyst rating of 2 ("buy") or better confirms the assertion; in fact, there are three companies passing this screen that are based in South Korea. Click here to read more: http://www.thetelecommanalyst.com/article.asp?docid=5235&;nd=1225 ======================== Sponsored by ========================= What do you want from a broker? Competitive pricing? Try Scottrade, where customers benefit from our low price points. Trade stocks for $7, get free Streaming Quotes & Charts, choose from 8000+ Mutual Funds with no transaction fees, open a no-fee IRA and more! Quality Service? Scottrade ranked #1 Broker! 145+ Offices - Apply now! http://www.scottrade.com/index.asp?supbid=4859 ============================================================== Broker reports ----------------------------------------- 1. SPECIAL TOWER REPORT: Leaning towers The analysts discuss industry leverage, possible consolidation, a Q3 review, plus individual profiles on American Tower (AMT), Crown Castle (CCI), SBA Comm. (SBAC), SpectraSite (SITE) and Pinnacle Holdings (BIGT). (46-page report for purchase - $100) http://www.thetelecommanalyst.com/download.asp?docid=25803147&;nd=1225 2. SPECIAL REPORT: Global telecom spending & terror impact Looking beyond the reduction in telecom related activity, eMarketer reviews growth opportunities and predicted spending increases over the next 3 years. Also, a discussion of anticipated IT rebuilding costs following the terror attacks. (7- page report for purchase - $30) http://www.thetelecommanalyst.com/download.asp?docid=25827020&;nd=1225 3. EDITOR'S PICK: Tech specs and wrecks Dundee discusses warnings out of Ciena (CIEN) and Lucent (LU) and the implications for telecom. Also, their outtake on a recent visit to Nvidia's (NVDA) headquarters, the firm's insight into the future of wireless, and more. (10-page report for purchase - $25) http://www.thetelecommanalyst.com/download.asp?docid=25838780&;nd=1225 ======================== Sponsored by ========================= It's here! The Multex Investor Toolbar Now you can get broker research, quotes, charts and company information from anywhere on the Web. http://www.athoc.com/wis/activate/activate.asp?pid=10279&;mktmsg=JA1 ============================================================== Free sponsored report ----------------------------------------- 1. FREE SPONSOR REPORT: The firm includes its "fair value" recommendation for the stock as well as key investment positives and negatives. 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