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Ciena (CIEN) Profiting from the Global Broadband Arms Race
In last week’s Buy, Sell or Hold I recommended Corning Inc. (NYSE: GLW), based on three factors:
- The coming global "arms race" to get nationwide broadband connectivity. The arms race recently heated up with the launch of Australia’s $31 billion nationwide broadband plan, which dwarfs the $7 Billion contemplated in the current U.S. budget.
- China’s has accelerated its broadband buildup, which was highlighted by Corning in its conference call as compensating for a weak U.S. telecom segment. China’s broadband buildup is a component of its $585 billion stimulus package.
- Inventory liquidation appears to be behind us, and carriers, who are facing double-digit internet…
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