Investors are moving from telescopic-themed-excessive-multiple creatures to microscopic-near-term-earnings-fearing-lower-multiple folks.

232

For tech multiples to significantly reverse direction, investors will need to feel comfortable about fundamentals again...including earnings estimates, IT spending trends, and macro issues.

222

Folks 'get' the idea of a potential mania on flat panel televisions and that Corning may be one of the few successful large cap ways to play the trend.

196

Third quarter and fourth quarter earnings estimates need to come down dramatically.

185

No way should Lucent's numbers be viewed as a sign that the business is turning around. They're coming off a horrible base.

165

Absolutely nothing is getting more positive. We need fundamental evidence to spur a long-term rally.

162

There is probably not going to be a recovery until 2003. I expect the suffering to continue and impact most of the telecom stocks.

159

So far there's very little evidence of excess inventory and 1Q 04 expectations seem reasonable to us relative to historical norms.

155

Investors were hoping for some white knight to pop in and save Lucent.

142