GLW - Viavi: A Profitable 5G And Open-RAN Network Testing Play

• Viavi Solutions is a network testing and measurement company that is seeing growth in both its fiber and 5G wireless businesses.
• Its ability to successfully navigate supply-chain issues has resulted in further differentiation with respect to competitors.
• However, this comes at a cost, namely in terms of inventory levels to be kept, and its operating costs are also on the high side when compared with a larger peer.
• Taking into consideration its better production efficiency, high demand for its products, a balanced capital allocation strategy, and lower valuations, the company is a buy.
• As a tech stock, market conditions are likely to continue to be volatile, but this is a company that has opportunistically positioned its products to take advantage of technologies like 5G Open RAN.

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