Zukunftschancen bei Glasfasertechnolgien? - 500 Beiträge pro Seite

[giggas]

Ich würde gerne in Glasfasertechnologie investieren,habe aber relativ wenig Ahnung welche Firma besonders aussichtsreich ist.Habe mir überlegt Corning ins Depot zu legen.Würde mich über Meinungen und Infos eventuell auch Alternativen sehr freuen.

[giggas]

ich habe mir auch nortel und juniper schon überlegt und würde gerne euere meinungen wissen.da der markt in letzter zeit schon sehr gut gélaufen ist, könnte es doch zu einer kleinen korrektur kommen,oder?

[NambaWan]

Corning ist gut, ebenso JDS Uniphase, Extreme Networks oder SDL
Hier wird es noch einige Jahre mit den derzeitigen Umwachssteigerungen gehen. Cisco gehört hier übrigens genauso her.
Gruß No1

[Blofeld]

Hallo giggas,

deine Auswahl war mit Corning, Nortel und Juniper schon sehr gut.

JDS Uniphase und SDL scheinen mir nach dem Übernahmedeal erst mal ausreichend bewertet.

Im Glasfaserbereich würde ich noch Ciena (!!!), Sycamore Networks und Digital Lightwave empfehlen. Alle drei haben glänzende Aussichten und enormes Wachstumspotenzial.

Zwar sind die Werte meist schon sehr gut gelaufen, aber ein Porsche ist eben auch nicht für ein Butterbrot zu haben.

PS:
Von Corning gab es vorgestern übrigens ausgezeichnete Quartalszahlen. Ich glaub ich muß nachkaufen.

cu

[giggas]

Gibt es keine Experten in punkto Glasfasertechnik hier im Board,oder will keiner einem Anfänger Tipps und Infos geben?Ich tendiere momentan zu Corning und werde,wenn nicht noch bessere Vorschläge kommen ,in dieser Woche kaufen.

[reed]

Geh mal ins Auslandsboard von Börse-Online, da sind die Experten Chanda und zock-pol, vielleicht bekommst Du dort noch ein paar Antworten, Corning wäre aber auch meine persönliche Empfehlung.

Gute Geschäfte !!

[gourmet]

hallo giggas,

wenn dir corning gefällt, dann wirst du dich sicherlich auch von newport und fibercore (eine kleine corning) begeistern lassen.

viele grüße

gourmet

[german]

Hallo,

zu Fibercore findest Du viele Infos im RB-Board (FBCE).

Hier bei W : O über Stichwort auch die Grundlagen.

Ich bin dort investiert - ist ein OTC-Wert, noch. Ein Nasdaq-Listing sollte aber demnächst anstehen.

german

[seroone]

Hallo @giggas!
LIGHT-PATH TECH. WKN:905448 ist auch in diesem Sektor tätig.
Die Aktie ist eine Perle!
Siehe Chart.

Weiter Information gibt es genug im Bord.
Gruß
seroone

[TOMMYSTAR2000]

Hintergrund | Optical Networks
VÖ: 04.06.2000







Bedürfnisse

Gemäss Marktforschungsinstitut IDC gab es 1995 19 Mio Internet-Nutzer. Heute sind es bereits über 210 Mio weltweit,
und im Jahr 2005 werden es rund 1 Mrd sein. Daneben wächst der Bedarf an Bandbreite exponentiell.
E-Commerce-Anbieter, Content Provider und Dienstleister im Internet erweiteren ihre Leistungen vermehrt mit
interaktiven oder multimedialen Inhalten (Video, Ton, Daten), die Netzwerkinfrastruktur muss durch diese erhöhte
Nutzung täglich mehr Leistung erbringen.

Internet Service Provider bzw. die großen Telecom-Unternehmen sind gezwungen, massiv in den Ausbau ihrer Netze zu
investieren. Sämtliche Betreiber rüsten derzeit ihre Netzwerke auf schnellere Übertragungstechnologien um. Von den
hohen Investitionen in Breitband-Netzwerke profitieren vor allem die Telecom-Ausrüster.

Fibre Channel

Glasfasernetzwerke, bzw. optische Netzwerke (Fibre Channel) vernetzen Rechner und Speichersysteme mit
Hochgeschwindigkeit. Fibre Channel berücksichtigt die Art der Geräte und das Zusammenspiel der Komponenten. Durch
seine Adaptionsfähigkeit bieten sich vielfältige Einsatzmöglichkeiten.

Das FibreChannel Interface überbrückt bis zu 10 Kilometer, bietet Geschwindigkeiten im Gigabit-Bereich und kann über
16 Millionen Stationen adressieren. Durch den Einsatz des FibreChannel-Protokolls werden auch zusätzliche Funktionen
angeboten, die die Zuverlässigkeit der Datenübertragung weiter erhöhen.

Technologie

Heutige Glasfasernetze basieren zumeist auf der DWDM-Technologie (DWDM=Dense Wave Division Multiplex). Dies sind
rein optische Multiplexsysteme, die -ähnlich Farbfiltern- nur genau definierte Wellenlängen des Spektrums durchlassen.
Für die Telekommunikation spielen diese Systeme eine immer wichtigere Rolle, denn sie können fast unbegrenzt
Bandbreite über bestehende Infrastrukturen bereitstellen. Systeme mit 40x2,5 Gbit/s über ein Faserpaar sind (bei Long
Distance Carriern) längst im Einsatz, noch deutlich schnellere stehen in den Labors.

Nach einer kürzlich veröffentlichen Studie von Pioneer Consulting wird sich der Markt für Long Distance DWDM bereits
dieses Jahr auf weltweit 5,2 Mrd Dollar verdreifachen. Pioneer nennt die führenden Anbieter für DWDM-Technologie:

NT
Nortel Networks
33%
LU
Lucent Technologies
27%
CIEN
Ciena
15%
ALA
Alcatel SA
14%
CSCO
Cisco Systems
5%
ERICY
Ericsson
3%


weitere Anbieter mit geringeren Marktanteilen sind u.a. Fujitsu, Hitachi, Sycamore Networks (SCMR), Algety Telecom,
Corvis und Qtera.

Die DWDM-Technologie hat jedoch zwei gravierende Nachteile. Zum einen wächst der Bedarf an Bandbreite schneller als
DWDM diesem nachkommen kann. Der Ausbau des Netzes ist ein relativ komplizierter und langwieriger Prozeß und das
Wachstum des Traffic wird bald Kreuzverbindungen zwischen den einzelnen regionalen Netzen mit mehreren tausend
Ports erfordern, welche bis dato schlichtweg noch nicht existieren.

Ein weiteres Problem sind die hohen Kosten. Die Lichtsignale, welche über die Glasfasern laufen, müssen ca. alle 200km
verstärkt werden, damit sie auch weiterhin lesbar bleiben. Dazu werden die optischen Signale zuerst in elektrische
Signale zurückgeführt um dann wieder verstärkt als Licht weiter übertragen zu werden. Die für diesen Prozeß benötigte,
große Anzahl an Lasern, verursacht etwa die Hälfte der Betriebskosten für die Telecom-Betreiber.

Weiterentwicklung

Die Zukunft der optischen Netzwerke liegt in der Weiterentwicklung der bestehenden Technologien (u.a. DWDM), und
vor allem in neuen Produkten, welche leistungsfähiger, billiger und dynamischer sein werden. Die Netzbetreiber fordern
effiziente aber einfache Lösungen, die einen dyamischen und schnellen Ausbau der Kapazitäten bei Bedarf ermöglichen.
Es gibt die unterschiedlichsten technischen Ansätze für die multiplen Problemstellungen. Welcher Anbieter seine
Produkte zuerst zur Marktreife führt, und ob sie sich dort auch durchsetzen lassen - diese Entscheidungen stehen noch
bevor.

Der Markt für optische Netzwerke ist stark fragmentiert, Komplettlösungen bietet nahezu kein Anbieter.
Technologieführerschaft in Zusammengang mit Kosteneffizienz entscheidet derzeit über den Erfolg eines Unternehmens,
auch wenn es nur wenige spezielle Komponenten für das Gesamtsystem entwickelt.

Fiber Optics - Players





börsennotierte Unternehmen





ADC Telecommunications (ADCT)
ADC Telecommunications, Inc. is a leading global supplier of network equipment, software and integration services
for broadband, multiservice networks that deliver data, video and voice communications over telephone, cable
television, Internet, broadcast, wireless and enterprise networks. ADC`s broadband, multiservice network solutions
enable local access, high-speed transmission and software management of communications services from service
providers to consumers and businesses over fiber-optic, copper, coaxial and wireless media. Headquartered in
Minneapolis, Minnesota, ADC has approximately 16,900 employees around the world and annual sales of $2.3
billion. ADC`s stock is included in the Standard & Poor`s 500 Index and Nasdaq-100 Index.
ADVA Optical Networking (Neuer Markt, ADV)
ADVA Optical Networking designs, develops and delivers cost-effective optical networking solutions. ADVA`s
products are implemented in both public and private networks, including Metropolitan Area Networks (MAN) for
fiber-based data services to the enterprise, Data Centers, Storage Area Networks (SAN) and Local Area Networks
(LAN). ADVA`s flagship Fiber Service Platform (FSP) products offer carriers the highest-performance, most
cost-effective optical networking solution available today for enterprise connectivity, including WDM and DWDM
technology.
Agilent Technologies (A)
Agilent Technologies Inc. (NYSE: A - news) is a diversified technology company, resulting from Hewlett-Packard
Company`s plan to strategically realign itself into two fully independent companies. With approximately 43,000
employees serving customers in more than 120 countries, Agilent Technologies is a global leader in designing and
manufacturing test, measurement and monitoring instruments, systems and solutions, and semiconductor and
optical components. The company serves markets that include communications, electronics, life sciences and
healthcare. In fiscal year 1999, the businesses comprising Agilent, then a subsidiary of HP, had net revenue of
more than $8.3 billion.
Alcatel (ALA)
Alcatel builds next-generation networks, delivering integrated end-to-end voice and data communications
solutions to established and new carriers, as well as enterprises and consumers worldwide. With 120,000
employees and sales of EURO 23 billion in 1999, Alcatel operates in more than 130 countries.
Avanex Corporation (AVNX)
Avanex designs, manufactures and markets photonic processors for the communications industry. Avanex`s
photonic processors offer communications service providers and optical systems manufacturers greater levels of
performance and miniaturization, reduced complexity and increased cost- effectiveness as compared to current
alternatives. Avanex was incorporated in 1997 and is headquartered in Fremont, Calif. In addition to a
development and manufacturing facility in Fremont, the company also maintains The Photonics Center(TM) in
Richardson, Texas.
Bookham Technology (BKHM)
Bookham® Technology designs, manufactures and markets optical components which allow communications
networks to be constructed efficiently to meet the growing demands of Internet traffic. Using patented
silicon-based ASOC® technology, the company`s products generate, detect, route and control light signals in the
next-generation optical communication networks which are currently being deployed by telcos, ISPs and large
enterprises. The company, which is quoted on Nasdaq and the London Stock Exchange, is headquartered in the
UK and has offices in the US and Japan.
CIENA (CIEN)
CIENA Corporation`s market-leading optical networking systems form the core for the new era of networks and
services worldwide. CIENA`s LightWorks(TM) architecture enables next-generation optical services and changes
the fundamental economics of service-provider networks by simplifying the network and reducing the cost to
operate it.
Cisco Systems (CSCO)
Cisco Systems is the worldwide leader in networking for the Internet.
Corning Inc. (GLW)
Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the
fastest-growing markets of the world`s economy. Corning manufactures optical fiber, cable and photonic products
for the telecommunications industry as well as high-performance displays and components for television and other
communications-related industries. Corning also uses advanced materials to manufacture products for scientific,
semiconductor and environmental markets. Corning`s revenues in 1999 were $4.7 billion.
Digital Lightwave (DIGL)
Digital Lightwave serves the growing fiber-optic networking industry -- high-speed telecommunications networks
based on fiber-optic technology -- with products and technology that monitor, maintain and facilitate the
management of voice, data and multimedia communications networks. Digital Lightwave customers include leading
telecommunications service providers and equipment manufacturers.
E-TEK Dynamics (ETEK)
(wird übernommen von JDS Uniphase (JDSU) für 2,2 JDSU-Aktien je ETEK-Aktie)
E-TEK Dynamics, Inc., headquartered in San Jose, designs and manufactures high quality components, modules
and sub-systems for fiber-optic systems. E- TEK`s wavelength division multiplexers (``WDMs``) are designed to
increase the bandwidth capacity of fiber optic networks. Other E-TEK components, including isolators, couplers
and integrated optics, are critical in enabling optical communications systems. These products are utilized in
terrestrial and submarine long-haul fiber optic networks as well as in short-haul markets, such as metro and
cable.
ECI Telecom (ECIL)
ECI Telecom Ltd. is a provider of integrated network solutions for digital communications and data transmission
systems. The Company designs, develops, manufactures, markets and supports end-to-end digital
telecommunications solutions for today`s new services and converging networks. The Company`s products create
bandwidth, maximize revenues for network operators, expand capacity, improve performance and enable new
revenue-producing services. In doing so, they enhance the capabilities of existing networks to support voice,
data, video and multimedia services. ECI Telecom`s equipment supports traffic in more than 500 service networks
in over 145 countries.
Finisar (FNSR)
Finisar Corporation (Nasdaq: FNSR - news) is a leading provider of fiber optic subsystems and network
performance test systems which enable high-speed data communications over Gigabit Ethernet local area
networks (LANs), Fibre Channel storage area networks (SANs), metropolitan data network applications (MANs),
and CATV. The Company is focused on the application of digital fiber optics to provide a broad line of
high-performance, reliable, value-added optical subsystems for networking and storage equipment manufacturers.
Intelect Communications (ICOM)
Based in Richardson, Texas, Intelect Communications is a leader in intelligent optical networks with the industry`s
only multi-protocol fiber optic access solution that has built-in flexibility and sets the standard in simplifying
network operation. Delivering products today that others promise in the future, Intelect`s products allow for a
broad array of services and bandwidth efficiency, providing carriers with a competitive time-to-market
advantage. With network management software supporting both TL-1 and SNMP, and a NEBS-compliant platform,
the company`s OmniLYNX product suite offers an unprecedented range of protocols and services in a single shelf
for both private and public networks. The OmniLYNX architecture is designed to support SONET
OC-1/OC-3/OC-12, SDH STM-1/STM-4, xDSL, ISDN-BRI, ATM transport, IP- over-Sonet, DS1 and DS3. Services
offered at the customer-premise include FXS/FXO/2W & 4W E&M, low speed data (RS-232, RS-422, RS-449,
V.35), Ethernet 10/100M and Video.
LightPath Technologies (LPTHA)
LightPath manufactures its proprietary collimator assemblies and GRADIUM® glass products at its headquarters in
Albuquerque. The Company`s subsidiary, Horizon Photonics, manufacturers isolator products utilizing its
proprietary automation technology in Walnut, California. LightPath has recently announced the opening of a
second office in Warren, NJ for the purpose of development of various optical switch products. The Company has
22 U.S. patents, plus 4 more pending, associated with its optical technologies. In addition, various foreign
countries have issued a total of 8 patents with 9 patents pending. LightPath common stock trades on the Nasdaq
SmallCap Market under the stock symbol LPTHA.
Lucent Technologies (LU)
Lucent Technologies, headquartered in Murray Hill, N.J., USA, designs and delivers the systems, software, silicon
and services for next-generation communications networks for service providers and enterprises. Backed by the
research and development of Bell Labs, Lucent focuses on high-growth areas such as optical and wireless
networks; Internet infrastructure; communications software; communications semiconductors and
optoelectronics; Web-based enterprise solutions that link private and public networks; and professional network
design and consulting services.
Marconi PLC (London Stock Exchange, MNI)
Marconi plc is a global communications and IT company with 45,000 employees worldwide and sales in over 100
countries. It supplies advanced communications solutions and the key technologies and services for the Internet.
Marconi plc is listed on the London Stock Exchange under the symbol MNI. The headquarters of Marconi
Communications is in Pittsburgh, PA.
Metromedia Fiber Network (MFNX)
Metromedia Fiber Network, Inc., the leading provider of end-to-end optical network solutions, is revolutionizing
the fiber optic industry. By offering virtually unlimited, unmetered bandwidth at a fixed cost, Metromedia Fiber
Network is eliminating the bandwidth barrier and redefining the way broadband capacity is sold. Metromedia Fiber
Network is extending metropolitan fiber optic infrastructure to the end user in strategic top-tier markets, enabling
its customers to implement the latest data, video, Internet and multimedia applications. In addition to its current
expansion in 51 cities in North America, Metromedia Fiber Network is establishing an international presence with
planned fiber optic network builds in 16 cities throughout Europe.
New Focus (NUFO)
New Focus, Inc. designs, manufactures and markets innovative fiber-optic products for next-generation optical
networks. The company`s Smart Optics for Networks(TM) products enable next-generation optical networks with
increased channel counts, higher data rates, longer reach lengths, new services and reduced cost of ownership.
Founded in 1990, New Focus, Inc. is headquartered in Santa Clara, California and has operations in San Jose,
California, Madison, Wisconsin, and Shenzhen, Peoples Republic of China.
Nortel Networks (NT)
Nortel Networks is a world leader in the Optical Internet. More than 75 percent of North American Internet
backbone traffic travels across Nortel Networks systems. In 1999, Nortel Networks set the standards for speed
with its 80 Gpbs line rate OPTera technology, and in bandwitdth with the OPTera 1600G, which transmits 160
colors of light across a 10 Gbps systems, for total capacity of 1.6 terabits per second (Tpbs).
Redback Networks (RBAK)
Founded in 1996 and headquartered in Sunnyvale, Calif., Redback Networks, Inc., is a leading provider of
advanced networking solutions that enable carriers, cable operators, and service providers to rapidly deploy
broadband access and services. The company`s market-leading Subscriber Management Systems(TM) (SMSs)
connect and manage large numbers of subscribers using any of the major broadband access technologies such as
Digital Subscriber Line (DSL), cable, and wireless. To deliver integrated transport solutions for metropolitan optical
networks, Redback`s SmartEdge(TM) multi-service platforms leverage powerful advances in application-specific
integrated circuit (ASIC), IP, and optical technology. With this product portfolio, Redback Networks is the first
equipment supplier focused exclusively on developing integrated solutions for the New Access Network.
SDL Inc. (SDLI)
SDL`s products power the transmission of data, voice and Internet information over fiber optic networks to meet
the needs of telecommunications, DWDM, cable television and satellite communications applications. They enable
customers to meet the bandwidth needs of increasing Internet, data, video and voice traffic by expanding their
fiber optic communications networks much more quickly and efficiently than would be possible using conventional
electronic and optical technologies. SDL`s optical products also serve a variety of non- communications
applications, including materials processing and printing.
Sycamore Networks (SCMR)
Sycamore Networks develops and markets intelligent optical networking products that transport voice and data
traffic over wavelengths of light. The Company combines significant experience in data networking with expertise
in optics to develop intelligent optical networking solutions for network service providers. Sycamore`s products
are based on a common software foundation, enabling concentration on the delivery of services and end-to-end
optical networking. Sycamore`s products and product plans include optical transport, access and switching
systems and end-to-end optical network management solutions.
Vitesse Semiconductor (VTSS)
Vitesse Semiconductor Corp. is the leading designer and supplier of innovative, high-performance semiconductors
utilizing state-of-the-art processes -- for the communications equipment manufacturers of next-generation
DWDM and optical networking, as well as storage area networking ICs and enclosure management products that
monitor and communicate critical reliability and availability information. The company`s products address the
needs of Core, Access, Optical and Enterprise network equipment manufacturers who demand a combination of
high speed, high complexity and low power dissipation.

private Unternehmen





Alidian Networks (private)
Formed in August 1998, Alidian has developed the Optical Service Network (OSN) family, which combines
electronics and photonics to permit comprehensive service delivery, breadth and awareness within a single highly
scalable architecture for the dynamic metropolitan-area network (MAN) environment. Able to augment the legacy
SONET ADM infrastructure yet offer service providers increased efficiency and cost savings as capacity grows
and new services are deployed, OSN devices can be deployed in a variety of physical and logical topologies.
Altitun AB (private)
(wird übernommen von ADC Telecommunications (ADCT) für ca. 870 Millionen Dollar in Aktien)
Altitun AB provides a full tunable laser product line, designed to help systems vendors and carriers reduce costs
today and drive the all-optical networks of tomorrow. Altitun is the provider of the world`s most complete tunable
laser product line. It is the first tunable laser company to offer an integrated electronics control package that
ensures easy management and integration. Altitun has offices in California, Massachusetts, the United Kingdom
and Sweden.
Amber Networks (private)
Founded in 1998, Amber Networks is developing carrier-class networking systems that will shape the Optical
Internet, enabling service providers to rapidly scale their services in ways that boost their competitiveness and
profitability. Company headquarters are in Santa Clara, California.
Appian Communications (private)
Appian Communications, Inc. is a venture-backed optical networking startup formed to define the intelligent
optical edge and enable new carrier services. Appian is developing an award-winning suite of intelligent and
flexible products that solve the "sipping straw" access problem that separates businesses from cost-effective
bandwidth capacity and service adaptability, and carriers from significant new revenues.
Astral Point Communications (private)
Privately held and located in Chelmsford, MA, Astral Point Communications is a pioneer of optical networking
equipment for the metropolitan carrier market. The company has developed a new generation of optical access
transmission systems based on its patent pending Optical Services Architecture(TM). These systems enable
carriers to provide profitable, network-based services and efficiently aggregate traffic from low-speed networks
to high-speed optical networks.
Atmosphere Networks (private)
Founded in 1997, Atmosphere Networks is the leading player in providing the onramps to the optical network.
Atmosphere enables telecommunications carriers to take full advantage of optical networks` capacities and offer
their customers the most flexible voice-and-data service packages. With Atmosphere(tm) products, carriers can
boost their competitiveness, revenues and market share while lowering their network costs by up to 75 percent,
while enterprise customers can mix and match the voice, Internet and other data services they demand.
BrightLink Networks (private)
Headquartered in Sunnyvale, Calif., BrightLink is a pioneer in providing optical switching technology to the
long-haul IXC market. The company began operation in 1998 and now has 115 employees with offices in California
and Texas. The company is privately funded and has now secured $71.2 million through three rounds of
investment. Investors include The Goldman Sachs Group, Credit Suisse First Boston, Mitsui, Comdisco, Vision
Capital, Draper Fisher Jurvetson, Menlo Ventures, The Sprout Group, and Global Crossing Ventures.
Calient Networks (private)
Calient Networks is a new developer of intelligent, all-photonic switching systems that help service providers
scale their networks for explosive bandwidth demands and deliver a new generation of wavelength services.
Calient`s architecture will provide a seamless `opto-electronic to photonic` migration path that is non-disruptive
to legacy operations, and near-term opportunity for carriers to offer revenue-generating services from their
photonic infrastructure. Founded in March 1999, the company is headquartered in Sunnyvale, California.
Chromatis Networks (private)
(wird übernommen von Lucent Technologies (LU) für ca. 4,5 Milliarden Dollar in Aktien)
Chromatis develops and manufactures next-generation optical transport solutions that provide carriers with
dramatic improvements in the cost, efficiency, scale, and management of multi-service metro networks. Founded
in 1998, Chromatis is headquartered in Herndon, Virginia, and is led by a seasoned team of executives with wide
experience in transmission systems and data networking from companies such as Nortel, Cascade, Ciena, 3Com,
US Robotics, Scorpio Communications, Newbridge Networks, and ECI Telecom.
Corvis (private)
Corvis Corporation is a privately held all-optical Internet infrastructure company founded by Dr. David Huber, one
of the leading figures in the field of optical communications. Corvis has introduced the first transparent all- optical
switching, transport and network management solutions that will revolutionize the way traffic is moved in the new
Internet-driven economy. Corvis products and services give communication service providers the flexibility to
build a transparent, high-capacity, all-optical mesh network necessary to quickly accommodate the continuing
growth of Internet, video, voice, and other data traffic. This capability can result in a significant gain in network
capacity using existing fiber in the field and provides the foundation for an all-optical, next generation Internet.
Cronos Integrated Microsystems (JDSU)
(mittlerweile übernommen von JDS Uniphase (JDSU))
Cronos Integrated Microsystems, Inc. is a leading provider of MEMS components and component technology to
the fiberoptic communications market. Cronos has created a standardized manufacturing platform for MEMS
processing and components consisting of simple building blocks that comprise an application-specific approach to

[TOMMYSTAR2000]

2.TEIL

Corvis (private)
Corvis Corporation is a privately held all-optical Internet infrastructure company founded by Dr. David Huber, one
of the leading figures in the field of optical communications. Corvis has introduced the first transparent all- optical
switching, transport and network management solutions that will revolutionize the way traffic is moved in the new
Internet-driven economy. Corvis products and services give communication service providers the flexibility to
build a transparent, high-capacity, all-optical mesh network necessary to quickly accommodate the continuing
growth of Internet, video, voice, and other data traffic. This capability can result in a significant gain in network
capacity using existing fiber in the field and provides the foundation for an all-optical, next generation Internet.
Cronos Integrated Microsystems (JDSU)
(mittlerweile übernommen von JDS Uniphase (JDSU))
Cronos Integrated Microsystems, Inc. is a leading provider of MEMS components and component technology to
the fiberoptic communications market. Cronos has created a standardized manufacturing platform for MEMS
processing and components consisting of simple building blocks that comprise an application-specific approach to
MEMS. This approach further streamlines MEMS integration into optical communication products significantly
reducing time to market for component and system manufacturers.
Cyras Systems (private)
Cyras Systems` bold new optical platform technologies help carriers keep pace with the ever-increasing need for
usable bandwidth. The company`s highly scalable K2 Trans-Metro Optical (TMO) platform seamlessly integrates
into existing network topologies, yielding new levels of aggregation, bandwidth optimization, reliability, service
flexibility, price/performance and support for all prevailing circuit-switched and data-centric transport protocols.
Cyras` ground-breaking architecture will allow carriers to transcend metro gridlock while extracting higher levels of
performance from their existing mixed-traffic infrastructure.
Dynarc (private)
Dynarc is leveraging the optical layer to provide advanced IP services-on-demand. Dynarc expands the business
opportunity spectrum and strengthens the competitive position for communication service providers by offering
uniquely designed equipment for Dynamic Optical Networks. Dynarc`s next-generation solutions address the needs
and requirements of Metropolitan Area Networks (MANs) and optical access networks. Dynarc`s strategy provides
a standards-based architecture that will deliver intelligent bandwidth allocation while maintaining strict QoS levels
to the Optical Network. The company provides a simple and unique optical solution for building scalable, reliable,
and high-performance networks for data, voice, and video traffic.
Ellacoya Networks (private)
Ellacoya Networks is a start-up company building scalable broadband service platforms for the new service
economy. Privately held and headquartered in Merrimack, New Hampshire, the company leverages a cross section
of communications expertise to enable next generation services for high capacity public data networks. Ellacoya
Networks helps service providers add value to bandwidth by providing a higher layer, intelligent service
environment capable of delivering individualized applications and services.
Equipe Communications (private)
Equipe Communications is focused on delivering products and solutions to carriers and service providers to enable
new services and higher capacity networks to be deployed. The company`s next generation products provide an
Optical On-Ramp to the exploding optical network core that allows service providers to leverage their existing
edge infrastructure, and deploy revenue-generating services.
JDS Uniphase (JDSU)
JDS Uniphase is a high technology company that designs, develops, manufactures and distributes a
comprehensive range of products for the growing fiberoptic communications market. These products are deployed
by system manufacturers worldwide to develop advanced optical networks for the telecommunications and cable
television industries. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU
and the exchangeable shares of JDS Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the
symbol JDU.
Kymata Ltd. (private)
Kymata was founded in early 1998 by Richard Laming and Brendan Hyland. The company is based in Livingston,
Scotland, Europe`s leading centre for both opto-electronic research and semiconductor manufacture. Kymata
offers a family of planar optical devices based on proven, versatile and industry accepted silica-on-silicon
technology. Current product families include: Arrayed Waveguide Gratings (AWG) multiplexer/demultiplexers;
Variable Optical Attenuators (VOA) which provide broadband attenuation of optical signals; and Thermo-optic
Switches (TOS) which enable quick, efficient and reliable switching of signals from one optical fibre to another.
These products provide the building blocks for higher functionality integrated optical modules and sub-systems
required to support the explosive growth anticipated in telecommunications and data communications.
Lancast Inc. (private)
Lancast is the leader in the design and delivery of innovative telco grade, intelligent fiber optic and mixed media
solutions for Ethernet, Fast Ethernet, Gigabit Ethernet, OC-3 and OC-12 based networks. Lancast`s
comprehensive solutions provide managed connectivity for public and private networks, and support the growing
requirement for bandwidth-on-demand and network-on-demand solutions. Lancast pioneered the concept of
electrical to optic network connectivity with its ``twister``(TM) product line and continues to lead the industry in
managed connectivity. Lancast`s SNMP-based NetBeacon(TM) network management software further enhances
network reliability by offering active control of Lancast network components.
Lightwave Microsystems (private)
Lightwave Microsystems Corporation designs, manufactures and markets standard, custom and semi-custom
LightWeaver(TM) planar lightwave circuits and integrated devices for advanced optical communication systems.
Devices are fabricated using both silica and polymer waveguide technology to provide passive and active
components. Passive components include AWG DWDM MUX/DMUXs, splitters, couplers, and taps. Active
components include optical switch arrays and variable optical attenuators.
Lumenon Innovative Lightwave Technology (private)
Lumenon Innovative Lightwave Technology, Inc. designs, develops and builds integrated optics devices in the
form of compact hybrid glass circuits on silicon chips. The chips can dramatically boost bandwidth in fiber optic
cabling, the pipeline for today`s burgeoning telecommunications industry. Lumenon`s breakthrough Hybrid Sol-Gel
Glass technology offers telecommunications providers the ability to vastly increase their Bandwidth capacity at a
fraction of the cost of conventional dense wavelength division multiplexing (DWDM) equipment.
LuxN (private)
LuxN is a leading manufacturer of multi-service optical access network platforms. LuxN solutions enable local
service providers to cost-effectively extend their managed optical networks from metropolitan points of presence
to enterprise customer premises. The company was founded in 1998 and funded by prominent IT venture partners
New Enterprise Associates, US Venture Partners and Menlo Ventures. Additional funding was received through
corporate partnerships with Mitsui, Mitsubishi and Siemens.
MAYAN Networks (private)
MAYAN Networks was founded in 1998 to simplify the delivery of services and to reduce cost and complexity at
the edge of the optical network. Its first product, the Unifier SMX, brings intelligence to the network edge,
creating much-needed bandwidth by migrating customers to an all-optical network from the core to the edge.
MAYAN`s customers are Network Service Providers (NSPs), including Competitive Local Exchange Carriers (CLECs),
Incumbent Local Exchange Carriers (ILECs), Inter-Exchange Carriers (IXCs), Internet Service Providers (ISPs),
and Independent Telephone Operating Companies (ITOCs).
Nanovation Technologies (private)
Nanovation Technologies is dedicated to designing and developing customized integrated optical devices for the
explosive fiber communications market. Its first-generation product portfolio is based on truly integrated, high
performance optical components including switches, splitters, couplers and monitoring taps that offer significant
price and performance advantages. The company will initially offer its products to the telecommunication and
data networking equipment manufacturers, and to original equipment manufacturers that supply subsystems.
Headquartered in Miami, Fla., the company is conducting substantial research and development focused on next
generation optical networking technology, including internal activities and programs with the Massachusetts
Institute of Technology and Northwestern University.
NEC Eluminant Technologies
NEC Eluminant Technologies, Inc., with 150 employees, is headquartered in Herndon, Virginia with its research and
development center based in Portland, Oregon. The company`s mission is to "light up the loop" by removing
broadband access bottlenecks using fiber optic technology. NEC is a leader in the research and development of
products based on passive optical networking, the technology that will enable fiber-to-the-business, as well as to
the curb and to the home.
Optical Micro-Machines (private)
OMM is a global leader in supplying MEMS-based all-optical switching solutions to Communications OEMs. The
company`s switching solutions are available as modules with integrated drive electronics or subsystems that
incorporate board level electronics and related opto-electronic components. OMM offers a complete range of
2-port, 3-port and 4-port subsystems that can be used in all-optical cross connect or add-drop multiplexing
configurations. The company`s advanced capabilities in MEMS, opto-electronics packaging and automation in
manufacturing have made it possible to deliver the first commercially available all-optical switching subsystems.
OptiMight Communications (private)
Founded by industry veteran Wu-Fu Chen and top optical networking scientists, OptiMight Communications, Inc.
is a privately held developer of high-capacity, ultra-long reach optical transport systems for global
telecommunications carriers. Carrier networks are overwhelmed by the Internet-driven explosion of data traffic
and are demanding a step-change in cost and capacity. OptiMight believes that the demand for bandwidth will
outpace the capacity growth achievable with conventional DWDM technology; therefore, OptiMight is
implementing innovative technology to address these needs. OptiMight is developing all-optical, ultra-long reach
DWDM systems with integrated network management capabilities to provide carrier customers with
unprecedented capacity, network flexibility, dramatic cost reductions and powerful competitive advantages. The
company is located in Mountain View, Calif.
Photonic Technologies (private)
(wird übernommen von Nortel Networks (NT) für ca. 35,5 Millionen Dollar in cash)
Photonic Technologies is a world leader in the development of optical component technology for the manipulation
and control of the polarization of light. Photonic Technologies` circulators and dynamic gain flattening filters are
critical technologies for high-speed optical networks and Dense Wavelength Division Multiplexing (D-WDM)
networks. Photonic Technologies` solutions will accelerate Nortel Networks lead as the industry moves from 10
Gigabits per second (Gbps) systems to 40 and 80 Gbps systems.
Sirocco Systems (private)
Sirocco Systems is an optical networking company focused on delivering third generation solutions to service
providers that allow them to derive new and enhanced services from their optical core networks. Sirocco
solutions introduce a suite of new networking platforms that offer multi-service, multi-wavelength switching
functionality, coupled with innovative service provisioning and management tools, which unleash the power of the
optical core. Founded in January 1999, the company is located in Wallingford, Connecticut.
SpectraSwitch (private)
Headquartered in Santa Rosa, California, SpectraSwitch designs, manufactures and markets optical components
for telecommunications test and network equipment manufacturers. The company`s flagship product family is
WaveWalker, a full line of optical switches, NxN cross-connects, compensators, attenuators, couplers and
wavelength selection devices.
Tellium (private)
Tellium is the first in-service supplier of intelligent optical networks, providing optical switches that are both
smarter and faster. Tellium Aurora Optical Switches address one of service provider`s most critical problems - that
of bandwidth management. Aurora Optical Switches quickly, automatically and cost-effectively provision
bandwidth without compromising critical restoration times. The Aurora line was designed to protect investments in
fiber optic and transmission equipment, providing a smooth migration path to the next generation optical public
network infrastructure. Tellium is led by a team of industry veterans from the leading telecommunications and
data communications companies worldwide, including AT&T, Ascend Communications, Bay/Nortel Networks,
Lucent Technologies, MCI and Telcordia among others. A team of fiber optics experts from Bellcore founded the
company in 1997.
Tenor Networks (private)
Tenor Networks, Inc. is a venture financed communications equipment company delivering the industry`s first
Optical Service Switch that leverages the growing abundance of optical capacity to create business value for
Network Service Providers. The company`s Optical Service Architecture provides Service Intelligence for Optical
Networks and enables NSPs to build next-generation networks that support the efficient and flexible delivery of
new service offerings.
Yipes Communications (private)
Yipes is the defining provider of a new class of managed optical IP networks. Yipes leverages the elegance of
native Ethernet technology to provide service that is smoothly scalable (in 1 Mbps increments) from 1 Mbps to 1
Gbps, enabling the next generation of Internet services. Yipes` networks provide roughly twice the bandwidth at
80 percent of the price of traditional data communications services. Yipes has received $91 million in funding from
Norwest Venture Partners, New Enterprise Associates (NEA), The Sprout Group/DLJ, Soros Private Equity
Partners, Chase Capital Partners, BancBoston Ventures, NewSpeed Capital and strategic investors Juniper
Networks, Inc., Extreme Networks and Intel Capital.

Fiber Optics - Segmente





Optical Switches

Astarte Fiber Networks
Brightlink Networks (ehem. Corvia)
Ciena (CIEN)(durch die Übernahme
von Lightera)
Cisco Systems (CSCO)(durch die
Übernahme von Monterey)
Corvis Corporation
Ilotron Ltd.
Lucent Technologies
Nortel Networks (NT)(durch die
Übernahme von Xros)
Siemens AG
Sycamore Networks (SCMR)
Tellium Inc.

Metro Networks

Alidian Networks
Astral Point Communications
Ciena (CIEN)
Cyras Systems
Ericsson (ERICY)
Marconi PLC
Nortel Networks (NT)(durch die Übernahme von Cambrian Systems)
Optical Networks
Osicom Technologies
Qeyton Systems

Access Networks

Adva AG Optical Networks (Neuer Markt)
Alcatel SA (ALA)
Fujitsu
Lucent Technologies (LU)
NEC Eluminant Technologies
Paceon Corporation
Qeyton Systems
Quantum Bridge Communications
Terawave Communications

Edge Switches

ADC Telecommunications
Alidian Networks
Appian Communications
Astral Point Communications
Atmosphere Networks
Chromatis Networks
Ciena (CIEN)
Cisco Systems (CSCO)(durch die Übernahme von Cerent)
Cyras Systems
Dynarc AB
ECI Telecom
Ellacoya Networks
Équipe Communications
Fujitsu
Geyser Networks
Lucent Technologies (LU)(durch die Übernahme von Ignitus)
Mayan Networks
Net Insight AB
Nortel Networks (NT)
Redback Networks (RBAK)(durch die Übernahme von Siara)
Sirocco Systems
Tenor Networks

Optical Switching Fabric

Agilent Technologies (A)
Agility Communications
Altitun AB
Astarté Fiber Networks
Chorum Technologies
Corning Inc. (GLW)
Cronos Integrated Microsystems
JDS Uniphase (JDSU)
Lucent Technologies (LU)
Marconi PLC
Nortel Networks (NT)(durch die Übernahme von Coretek)
Optical Micro-Machines
Spectraswitch
...und viele weitere

Optical Components

Alcatel Optronics (ALA)
Agilent Technologies (A)
Corning Inc. (GLW)
E-TEK Dynamics (ETEK)
JDS Uniphase (JDSU)
Lucent Technologies (LU)
Nortel Networks (NT)
SDL Inc. (SDLI)
...und viele weitere

Optical Integrated Circuits

Bookham Technology (BKHM)
Kymata Ltd.
Lightpath Technologies
Lightwave Microsystems
Lumenon Innovative Lightwave Technology
Nanovation Technologies
...und viele weitere







© 2000, Rames El Desouki. All rights reserved.

QUELLE: http://www.redmailorder.com/boerse/mag519.htm

[TOMMYSTAR2000]

Analyse | Stratos Lightwave (STLW)quelle: http://www.redmailorder.com/boerse/mag534.htm
VÖ: 23.07.2000






Stratos Lightwave produziert Komponenten und Subsysteme für optische Netzwerke (Fiber Optics). Der Markt für diese
Produkte ist riesig und wächst mit rasanter Geschwindigkeit.

Die Aktie wurde am 27.06.2000 zu $21,00 emittiert, eröffnete mit $50,00 und beschloß ihren ersten Handelstag nach
einem wilden Ritt (Hoch: $56,13, Tief: $31,50) bei $34,13. Seitdem bewegt sich der Kurs langsam aber stetig nach
oben, der Wert schloß am Freitag bei $49,00.

Mit dem Ende der Quiet Period Anfang nächster Woche, dürfen die Emissionsbanken und das Unternehmen auf die
Unterbewertung von Stratos, relativ zu seinen direkten Konkurrenten, aufmerksam machen.

Schon im Vorfeld veröffentlichte das renommierte amerikanische Magazin Business Week einen ausgesprochen positiven
Artikel zu Stratos Lightwave. Im Gegensatz zu vielen Konkurrenten ist STLW bereits profitabel. Für das laufende Jahr
wird ein Umsatz von 110 Millionen Dollar und ein Ergebnis von $0,12 je Aktie erwartet. Für 2001 sollen diese Zahlen dann
auf 170 Millionen und $0,22 steigen.

Interview mit James McGinley (CEO, President)
(Real Audio Format, © WallstreetReporter.com)
Kennzahlen





Unternehmen
Umsatz
Wachstum
Gross Margin
EPS
Stratos Lightwave (STLW)
23,4
29,3%
33,8%
+ 0,02
Avanex (AVNX)
10,5
61,5%
35,3%
- 0,08
Finisar (FNSR)
20,7
25,5%
42,0%
+ 0,01
New Focus (NUFO)
9,8
44,1%
negativ
- 2,12
Sonus Networks (SONS)
6,5
496,0%
30,0%
- 0,26

Zahlen in Millionen US-Dollar für das letzte verfügbare Quartal.
Umsatz: 3 Monate, Wachstum: sequentiell (Quartal zu Quartal)

Unternehmen
Umsatz 2000e
akt. Kurs
MCAP
P/S 2000e
Stratos Lightwave (STLW)
110,0
$49,00
3.076
28
Avanex (AVNX)
55,0
$152,31
9.777
177
Finisar (FNSR)
100,0
$27,00
4.314
43
New Focus (NUFO)
50,0
$141,31
8.245
165
Sonus Networks (SONS)
30,0
$225,00
13.595
453

Stand: 21.07.2000, Umsatz und MCAP in Millionen US-Dollar

Methode Electronics (METHA)





Stratos Lightwave ist ein Spin-Off von Methode Electronics (METHA, WKN: 900070). Auch nach dem IPO hält Method
noch 86,1% der STLW-Anteile, und hat bereits angekündigt diese in den nächsten 6-12 Monaten vollständig an seine
Aktionäre auszuschütten (ein strategischer Schritt a la COMS/PALM).

Merrill Lynch hat zu diesem Umstand kurz nach dem STLW-IPO eine Analyse veröffentlicht. Demnach bekäme jeder
METHA-Aktionär 1,5 STLW-Aktien je gehaltener METHA-Aktie. Für Methode Electronics` Kerngeschäft erwartet Merrill
Lynch einen 2001er Umsatz von 375 Millionen Dollar, bewertet man METHA nun sehr konservativ mit einem
P/S-Verhältnis von 1,0 zzgl. Cash, so ergibt sich für `Rest-METHA` ein Wert von $11,50.

Den fairen Wert der METHA-Aktie errechnet Merrill also wie folgt:
METHA = 1,5 x STLW + $11,50

Aktuell notiert METHA an der Nasdaq bei $53,625 (Stand: 21.07.2000), der faire Wert liegt nach Merril Lynch`s
Rechnung aber bei $85,00 - ein satter Discount von knapp 37%! Methode Electronics ist also ein günstiger Weg die
Wachstumsstory Stratos Lightwave zu spielen.

Fazit





Stratos Lightwave scheint auf dem jetzigen Kursniveau im Vergleich mit der direkten Konkurrenz deutlich unterbewertet.
Das Unternehmen hat mit Cisco, EMC, Nortel Networks und Alcatel alle Großen der Branche als Kunde, arbeitet bereits
jetzt profitabel und ist mit einem Umsatz in dreistelliger Millionenhöhe bereits weit aus der StartUp-Phase
herausgewachsen.

Nach der Megafusion JDSU/SDLI ist der gesamte Sektor in Aufruhr, werden doch nun die anderen Big Player unter den
Fiber Optics - allen voran Corning (GLW) - unter zunehmendem Zukaufzwang stehen, in der Absicht mit JDS Uniphase
Schritt zu halten. STLW ist neben anderen ein potentieller Übernahmekandidat.

Die Bewertung vieler Werte aus der zweiten Reihe ist bereits völlig aus dem Ruder gelaufen. So notiert New Focus
(NUFO) bei hohen Verlusten und negativen Margen in astronomischer Höhe, und Börsenneuling Sonus Networks (SONS),
ein StartUp mit winzigen Umsätzen von knapp über 6 Millionen Dollar im soeben abgelaufenen Quartal, wird an der
Nasdaq derzeit mit mehr als 13,5 Milliarden Dollar bewertet.

Für STLW erscheint im anhaltenden Boom für optische Netzwerke ein Multiplikator von 40-50 auf die 2001er Umsätze
durchaus realistisch.

Kursziel (6 Monate): $120,00







© 2000, Rames El Desouki. All rights reserved.












INSIDE WALL STREET ONLINE
BY GENE MARCIAL
July 18, 2000



Stratos May Be Headed for a Higher Altitude

As its post-IPO quiet period ends, expect to hear all about how undervalued this fiber-optic gear maker is


Except for deep-pocketed, well-connected big investors, few people manage to
buy into initial public offerings -- especially the hot ones. One recent IPO scorcher
was Stratos Lightwave (STLW), which jumped to 50 a share on its opening day on
June 27, up from its offering price of 21. It has since sagged to 33. But some pros
in the know argue that the stock is now a great buy -- especially for those who
were kept out of the stock`s IPO.

Stratos makes subsystems and components for fiber-optics networks, including
transreceivers, connectors, and cable asemblies. These components are
incorporated into the optical networking products of such companies as Nortel
Networks (NT), Cisco Systems (CSCO), Agilent (A), Lucent Technologies (LU),
and Alcatel.

Stratos is one new issue that is definitely still undervalued and deserves serious
post-IPO attention, argue some money managers who have been buying at the
stock`s current levels. Stratos, they believe, is headed into the stratosphere --
where the other stocks in the fiber-optic components group have gone.

SHHH. One reason for Stratos` flattish behavior since hitting the mid-30s: The
company is still in its four-week "quiet period," when both it and its underwriters
aren`t authorized to publicly comment on the stock. That quiet period ends on July
21. So the pros expect the stock to bolt again after that day, when analysts, the
company, and its fans can start talking up Stratos in full force. Some pros who
know the company -- and who were in on the IPO -- have been buying more
shares in the open market.

One such investment manager in San Francisco is convinced that the stock could
hit 100 in 12 months, based on Stratos` products and the big moves that the
company`s peers have made. This money pro declined to be identified because
he`s privy to some insider analyses and estimates on Stratos, being very close to
some of the IPO`s underwriters, which were spearheaded by Lehman Brothers
and CIBC World Markets.

"The stock is way undervalued when compared to the market cap of Stratos` rivals,
including Avanex (AVNX), New Focus (NUFO), and Sonus Networks (SONS),"
says the money manager.

UNPROFITABLE PEERS. One analyst estimates that Stratos will generate revenues of about $110 million in
2000 and around $170 million in 2001. And he expects the company to continue making money. He
figures that Stratos will earn 12 cents a share this year and 22 cents in 2001. At its current price of 34,
Stratos has a market cap of $2.1 billion. Compare these numbers those of its peers and you`ll realize
how undervalued Stratos is, argue some of its supporters.

Avanex, which is expected to post revenues of $50 million this year, trades at 162 a share, has a market
cap of $10.5 billion, and it has yet to make money. New Focus, also expected to post revenues of $50
million in 2000, is trading at 132 a share, with a market value of $7.7 billion. It isn`t making money yet,
either. And Sonus, also not yet profitable, is expected to post sales of $30 million this year. Trading at
186 a share, Sonus has a market cap of $11 billion.

When investors hear more about this, shares of Stratos should get a lot more attention, says an analyst
at one of the underwriting firms. No matter how you slice it-- by products, customers, or market
capitalization -- "little-known Stratos is way underpriced when compared to its close rivals," says the
analyst.

Senior Writer Marcial has been writing Business Week`s Inside Wall Street column for 18 years. Catch his online column every Tuesday afternoon








Copyright 2000, by The McGraw-Hill Companies Inc. All rights reserved.
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[edgar99]

@TOMMYSTAR2000
Danke !!!!!!!!!
SUUUUUPER ÜBERSICHT !!!!!!
Bin schon seit längerem in CIENA investiert und habe jetzt
Nortel auf meiner watch-list.
edgar99

[giggas]

An Tommy Star 2000.
Möchte mich dem Kompliment anschließen.Da mir deine Postings sehr Profimäßig wirken,würde mich dein persönlicher Favorit interessieren.Durch deine vielen Infos kann ich mich noch schwerer Entscheiden.Schon mal vielen Dank.

[giggas]

Tommy Star bitte melde dich
Wennn ich keine Weiteren Hinweise bekomme werde ich mir wohl oder übel selbst eine Aktie herauspcken müssen.Momentan tendiere ich immer noch zu Corning.Beiträge erwü+nscht!!!!!!!!!!!!!!!!!!!!!!!