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A Second-Half Earnings Reprieve?

Q: What about JDS Uniphase (JDSU ) and other fiber-optics outfits?

A: Well, the problem remains that we built far too many fiber-optic lines to nowhere, and it looks like it's going to be quite a while before capacity utilization reaches a level that could spark capital spending by the telcos. Analysts are looking for JDSU to narrow its losses as we go forward but won't look for profitability until around June, 2005. Only one analyst has a strong buy, none have a buy, 11 have a hold, 9 have a sell, and 2 have a strong sell.

Q: We've seen many earnings surprises in tech -- like from Computer Associates (CA ) and Intuit (

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