Michael Ching Quotes

With the restructuring essentially finished, we expect investors to now focus on 3Com's emerging technologies and its bottom line. We continue to look for the company to report a breakeven fourth quarter, although earnings per share could turn positive in the second quarter due to non-operating gains. - Michael Ching

With a new management team in place, the review process will likely lead to more conservative revenue growth, and therefore (earnings) performance, in the near term. - Michael Ching

We spoke to Cisco last night, and we do not think there is any change in its business. We believe the factors impacting Intel's results are largely immaterial to Cisco. Cisco has a very modest exposure of revenues to Europe. - Michael Ching

We expect to maintain our estimates at $1.05 a share for 2000 and $1.43 for 2001, so Motorola remains the most attractively valued stock in our universe, at 23 times 2001 EPS estimates. - Michael Ching

We continue to believe that Cisco will be among the first companies to emerge once the end markets recover. - Michael Ching

We continue to believe that aggregate service provider spending in the U.S. will actually grow about 10 percent in 2001, and that our companies will report an average revenue increase of 25 percent next year. Despite this, the average price-earnings multiple of our group is now approaching levels last seen in 1997-98. - Michael Ching

We believe that most of the issues impacting Lucent's September quarter results are company specific. Even increasing bad debt reserves because of emerging service provider credit concerns reflects Lucent's aggressive policy towards providing vendor financing. - Michael Ching

We believe that even with the stock opening down significantly, the stock will probably be overvalued. - Michael Ching

There was nothing wrong with the process. - Michael Ching

The size of this charge reflects both much weaker demand forecasted over the next 12 months as well as the costs for certain commitments that Cisco felt obliged to fulfill. - Michael Ching

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