It's almost cliché to talk about how bad of a year 2012 was for
communications equipment vendors dependent on American and European
carrier spending. With core broadband access product sales down 13% in
2012, ADTRAN (Nasdaq:ADTN) definitely found itself among the laggards, with shares down more than 30% over the past year and well below the S&P 500.
But 2013 is a new year, and hope springs eternal in the hearts of tech
investors. While investors should not discount the competitive risks
from rivals like Calix (NYSE:CALX) and Alcatel Lucent (NYSE:ALU),
there is reason for at least cautious optimism that carrier
infrastructure deployments will lead to better results for ADTRAN. At a
minimum, it certainly doesn't seem like the Street has priced this stock
for particularly breathtaking performance.
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http://www.investopedia.com/stock-analysis/041013/adtran-looks-rebound-pretty-miserable-2012-adtn-calx-alu-t.aspx
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