HOW HIGH CAH OPTICAL STOCKS FLY?

摘要

Wall Street can be forgiven for looking gift horses such as optical networking in the mouth these days. There's a list of technology sectors that spent 1999 smokin' but now are in flames. Then this summer's optics deals blew the dot-com record book away. On July 28, for example, Corvis Corp. went public and earned a market cap of $28 billion—more than initial valuations of priceline.com, eToys, TheStreet.com, and iVillage combined. And oh yes, at one point during the first day of trading, Corvis, then still awaiting its first dollar of sales, was worth more than General Motors Corp. Can this be real, or is it Dot-Com Tulipmania Ⅱ?