Martin Pyykkonen

Telecom equipment analyst,

CIBC World Markets

CATEGORY: Telecom equipment

STOCK PICKS: Cisco Systems (CSCO), Juniper Networks (JNPR), Inktomi (INKT)

The big bet here is on a new generation of telecom equipment based on Internet technology. For decades, telecom companies used private standards created by companies such as Lucent Technologies Inc. and Nortel Networks Corp. Now they're adopting the open way of the Web. Pyykkonen expects telecom carriers such as WorldCom and AT&T to boost spending sharply on so-called Internet protocol equipment within six months.

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