If there is a slowdown in the optical-networking market, someone forgot to tell JDSU. JDSU pretty well hit on all cylinders even with a slowing from Lucent in the quarter. |
Nortel's results had one big surprise. Optical revenue declined sequentially. Ouch! Optics is Nortel's growth engine and it has been growing at over 20 percent sequentially in previous quarters. |
We believe that this is an unusual temporary event and gives a unique opportunity to buy a significant market leader on weakness. |