Editor's Note:

TheStreet.com

has always believed that offering a wide variety of opinions and viewpoints -- rather than a monolithic "house view" -- helps readers make better-informed investment decisions. In that spirit, we bring you "360 Degrees."

This weekly feature is designed to take advantage of our stable of reporters and contributors, who will offer analysis of specific stocks from all angles -- fundamental vs. technical vs. short-term trader and long-term investor.

Today's subject,

JDSU

(JDSU)

, was chosen by the readers

last week; please see our poll below to help determine the next stock to get the "360 Degrees" treatment.

Party Like It's 1999 by Jim Cramer

I love JDSU right now. It was my "Cramer on Demand" stock on

"RealMoney Radio" Thursday, but this morning's

Alcatel

(ALA)

-

Lucent

(LU)

news means somebody's got to buy JDSU. I can see JDSU going to $5.75.

JDSU stands for "Just Don't Sell Us" again because

Verizon

(VZ) - Get Report

and

AT&T

(T) - Get Report

are fighting for survival, adding movie rentals over phone lines. That kind of service takes a fat pipe to the home, so there's a huge fiber-optic rollout under way: brisk business for JDSU in testing all the new lines.

You could also make money on this idea with

Finisar

(FNSR) - Get Report

,

Avanex

(AVNX)

and

Ciena

(CIEN) - Get Report

, but I like the JDS Uniphase management team and the consolidation angle here.

Best House in Risky Neighborhood by Cody Willard

Can JDSU, the stock, be stopped? It just runs and then rallies and then runs again. Certainly the company has seen a major up tick in business, but like most of the speculative optical stocks out there, this one is likely ahead of itself in the near term.

This is a company that has done a great job of rationalizing it's businesses, including selling off underperforming assets and acquiring growth businesses. JDSU is indeed the best positioned and will likely be the biggest beneficiary of the growth in optical that's set to continue and accelerate this year.

It's also probably the "safest" play among the optical component stocks (though to be sure, that's a

relative statement

because all of these $5 optical stocks are certainly risky), as it's maintained higher gross margins and managed its balance sheet better than most of its competitors.

All that said, I'm mostly a holder and/or trimmer of the stock at the current levels after it rallied more than 100% so far this first quarter.

Let Stirring Dogs Lie by Alan Farley

Every dog has its day. And it looks like JDS Uniphase is finallytaking its turn.

Bow-wow

.

Admittedly, the stock has been an excellent performer since bottoming outlast May, rising almost 400%. But it's now headed toward major resistance atthe 2004 high below $6. So this rally may have another $1 to $1.50 torun, but that's about it.

Specifically, don't look for this burst-bubblestock to return to its glory days anytime in the next decade. In fact, itsunlikely to hit double digits in the next one to three years.

At the time of publication, Cramer did not own any of the stocks mentioned, although holdings can change at any time. Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio in real time and find out what trades Cramer will make before he makes them, sign up for

ActionAlertsPLUS.

At the time of publication, Willard was long JDSU although holdings can change at any time. Cody Willard is a partner in a buy-side firm and a contributor to TheStreet.com's RealMoney. He also produces a premium product for TheStreet.com called

The Telecom Connection and is the founder of Teleconomics.com.

Alan Farley is a professional trader and a contributor to

RealMoney. Alan is also the author of the book The Master Swing Trader and operates a Web site related to swing trading (HardRightEdge.com). He also produces a premium product for TheStreet.com called

The Daily Swing Trade.