Summary:

Inventing Money, one of the better investing weblogs has some sage advice for tech investors. First avoid the PC chip stocks, and secondly be very careful of what you buy. Semiconductor growth will likely come from FTTP, GbE, HDTV/ATV, IPv6, 3G, VoIP, & advanced set-top boxes. […]

Inventing Money, one of the better investing weblogs has some sage advice for tech investors. First avoid the PC chip stocks, and secondly be very careful of what you buy.

Semiconductor growth will likely come from FTTP, GbE, HDTV/ATV, IPv6, 3G, VoIP, & advanced set-top boxes. But tough pricing (as inventories loom) and street estimates ahead of reality could cause trouble. Telco equipment will have very focused growth especially in IP/MPLS, FTTx, 2.5G/3G, next-gen SONET, Metro Ethernet.

He (or she) is touching on all the themes I have been warning about: services not hardware, software not commodity hardware (unless your are Dell or Chinese). Cisco gets it!

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