Another share in demand is Esat. It took a bit of a battering recently in New York, but is being seen as a good bet for the future.

Many investors and analysts are taking the view that Esat will eventually be bought out by one of the big telecommunications players amid further consolidation within the sector.

Speculation of a takeover would support the share price and offer the potential of sizeable gains for investors.

Esat managing director, Mr Denis O'Brien, has insisted that the company is on course to meet its targeted market share in both corporate telecoms and mobile phones. The share remains a relatively high-risk investment option, and like many in the information technology sector will continue to be volatile.

Esat's share price has the potential to rise and fall by more than the Nasdaq market average and may not suit the faint hearted.