Table: Best Picks in Telecom

Company/Symbol Price* P-E Ratio**
Alltel AT $47.02 15
Few competitors challenge this regional carrier's stronghold in local markets
Vodafone VOD 20.48 16***
Growth in margins and revenues at the world's largest wireless outfit will outpace rivals
Arris Group ARRS 4.80 NA
This emerging leader in cable-telephone gear capitalizes on broadband network upgrades
Nortel Networks NT 3.00 79
The network service provider's product portfolio is undervalued
*June 13 **Based on estimated 2003 earnings
***Yearend March, 2004 Data: BusinessWeek, Bloomberg Financial Markets

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