Intel's Hot Spot In The Middle East
Forbes.com: Intel's Hot Spot In The Middle EastIntel's Hot Spot In The Middle East
John Dobosz, 09.29.04, 4:00 PM ET
Nikhil Hutheesing, editor of Forbes Wireless Stock Watch, recommends buying shares of the Tel Aviv, Israel-based provider of wireless broadband infrastructure, Alvarion Ltd. The company's revenues grew 75% in the first half of 2004 to $93.5 million, and net income came in at $3.9 million, compared to a loss of $9.8 million in the first half of 2003. Shares of Alvarion peaked at $17.15 on March 8, and one year ago traded as low as $5.86. Based on Tuesday's close of $12.66, Alvarion has a market capitalization of $652 million and trades for 57.5 times expected 2004 earnings of $0.22 per share.
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