(Business Edge columnist Gyle Konotopetz regularly profiles the top stock picks of some of Canada’s most accomplished investment pros).

Kirby Thibeault

FEATURED PRO: Kirby Thibeault is president of Calgary-based Kapital Investments Corp. (www.kapital-investments.com). The market strategist distributes an interactive financial markets commentary that strives to give investors a three- to six-month lead on expected behaviour in the markets. He is a former stockbroker and has a masters degree in financial economics.

Thibeault’s Perspective: “I continue to like the technology sector and I continue to be a strong bull on the wireless sector (Alvarion, a Nasdaq company introduced to Kapital subscribers at $5 U.S., recently traded at $15.65).

“First, it is my view that the level of capital investment will continue to increase in this area over 2004. In turn, many companies will increase their levels of equity financings with higher stock prices and therefore increase both their capital expenditure programs and expectations about future financial growth to meet consumer and business demand for the replacement
of technology and equipment.

“I expect these featured companies to do well over the following 12- to 18-month period.”



FIRST STAR
* Juniper Networks (JNPR-Nasdaq)
* Recent Price: $24.40 US.
* 52-Week Range: $7.89-$31.25.
* Snapshot: Juniper provides Internet infrastructure solutions to Internet service providers and other telecommunications services.
* CEO: Scott Kriens.
* Head Office: Sunnyvale, Calif. (1,553 employees).
* Vital Stats (in U.S. dollars): Current Price/Earnings Ratio, 247.8; Revenue (last 12 mos), $701.4 million; 5-Yr Revenue Growth, 145.1 per cent; Earnings (last 12 mos), $32.2 million; Market Cap, $9.5 million; Shares Outstanding, 389.2 million.
* Thibeault’s View: “I expect Juniper will perform well as the company is expected to take some market share away from Cisco Systems in the networking industry. Also, it is my view that the company has cleaned up its financial statements and cost structure and will continue to emerge out of its trough.
“Consequently, I believe the company will report a trend of sustained higher revenue and earnings growth going forward.”
* Thibeault’s Risk Rating: High.
* Web Watch: www.juniper.net



SECOND STAR
* Cisco Systems (CSCO-Nasdaq)
* Recent Price: $23.12 US.
* 52-Week Range: $12.73-$29.39.
* Snapshot: Cisco provides network infrastructure solutions for the Internet, enabling customers to transport data, voice and video.
* CEO: John Chambers.
* Head Office: San Jose, Calif. (34,000 employees).
* Vital Stats (in U.S. dollars): Current Price/Earnings Ratio, 37.3; Revenue (last 12 mos), $19.8 billion; 5-Yr Revenue Growth, 10.6 per cent; Earnings (last 12 mos), $4.3 billion; Market Cap, $158.8 billion; Shares Outstanding, 6.8 billion.
* Thibeault’s View: “Cisco is anticipated to continue to deliver exceptional performance to investors over at least the following 12- to 18-month period. The company’s president, John Chambers, is the ‘Alan Greenspan’ of the technology sector in that his
financial guidance and historical performance is expected to continue to attract a high percentage of institutional and retail investment.
“Moreover, the company’s balance sheet is very healthy and it is also expected the company will continue to deliver high revenue and earnings growth.”
* Thibeault’s Risk Rating: Low.
* Web Watch: www.cisco.com



THIRD STAR
* Qualcomm Inc. (QCOM-Nasdaq)
* Recent Price: $64.13 US.
* 52-Week Range: $29.58-$64.52.
* Snapshot: Qualcomm develops and delivers innovative digital wireless communications products and services based on its CDMA technology.
* CEO: Irwin Jacob.
* Head Office: San Diego (7,400 employees).
* Vital Stats: Current Price/Earnings Ratio, 55.1; Revenue (last 12 mos), $4.1 billion; 5-Yr Revenue Growth, 0.2 per cent; Earnings (last 12 mos), $938.4 million; Market Cap, $51.63 billion; Shares Outstanding, 805.1 million; Dividend Yield, 0.60 per cent.
* Thibeault’s View: “I expect the share price of Qualcomm to continue to deliver very good growth to investors over the following 12- to 18-month period. With a well-balanced capital structure and high expected revenue and earnings growth, it remains my
view that this company will continue to deliver exceptional growth for investors.”
* Thibeault’s Risk Rating: Medium.
* Web Watch: www.qualcomm.com

Thibeault’s EDGE Record: +19 per cent. Best Pick: Alvarion (ALVR-Nasdaq) +46.4 per cent. Worst Pick: Citigroup (C-NYSE) +3.7 per cent. Disclosure: Thibeault
says he does not personally own stock in the featured
companies.