I bailed out of JDSU at 17 & change, and from what I've seen of their financial reports, I still don't see it as undervalued. I can't speak to the other companies, but I'm going back to basics - value, P/E ratios, etc....even in growth stocks. Even after having been battered down, I've seen too many tech stocks that are too expected based on high hopes for future earnings. I don't know enough about fiber optics to know what to expect from long term revenue growth, or whether something will come along that makes the industry second rate. My stockbroker's eyes went up when I cut my losses with JDSU, which I bought because it was a "hot stock in a hot industry" (the Peter Lynch kiss of death...before I read "Beating the Street" and "One Up on Wall Street"). AFTER I read Lynch, I changed my portfolio around, and put my JDSU money on top of some other money I had in CHGO, a pizza restaurant with over 20 locations in several states. I know the company (Lynch again), and they've quintupled earnings per share the last two years in a row. I don't know a lot about fiber optics, but I know good pizza when I taste it. If you're a physicist, or have some specialized knowledge about the industry, more power to you. I know that after I bailed on JDSU at 17, it lost another 30% in a month and a half. As for the pizza stock...it's a lot less sexy, but it's up 25% in the same month and a half, and about 400% in the three years or so since I first bought it. As for me, I'm done with high P/E ratios and the "Bigger Fool" theory.