Ceragon Networks: Buy The Drop
Written by: Aaron Katsman | September 17, 2007
Aaron Katsman
www.IsraelNewsletter.com
So I am in the car with my friend Steve, who happens to be a huge fan of the 80’s supergroup ABC (supergroup? so I exaggerate a bit), when on the radio appears the classic hit “How to be a Millionaire.” After he cranks up the volume, I start focusing on the lyrics, “Say Mr. Whispers! Here comes the click of dice roulette and blackjacks - gonna build us a paradise.” Shakespearian, wouldn’t you say!
Looking to be a millionaire? Well better than blowing all your money on blackjack (or betting the Seahawks…), look to WiMAX technology.
Having mentioned Alvarion (ALVR) last week, let’s focus on Ceragon Networks (CRNT). Ceragon, the leading provider of wireless backhaul solutions for IP-centric networks, today announced that the Russian Summa Telecom, has chosen Ceragon to power the Russian carrier’s WiMAX network. This is another in a long line of victories for the Israeli based company.
Ceragon stock has tumbled by more than 20% over the last 3 weeks, and in the low $14’s, the stock looks quite attractive. The company has a strong pipeline of deals and as one of the leading contenders to win Sprint Nextel Corp’s (S) mega WiMAX project, the stock could be off to the races.
WiMAX WiMAX WiMAX it’s all about WiMAX. Even Google(GOOG) is trying to get in on WiMAX. For an interesting read, check out Susan Crawford’s take.
Ceragon stock has had a huge run so far this year, almost tripling since the beginning of the year, but with the recent weakness, this looks like a classic case of “buy the dips.” Just remember, “But there are millions who often get nowhere. And there’s just one secret I think you should share.”….Buy WiMAX.
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Disclosure: Author has a position in ALVR. Author has no positions in any of the other stocks mentioned as of 9/17/07.
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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
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