A trend, unlike a fad, has staying power. The climb to market saturation is steadier and longer. Midcap IPG Photonics (IPGP) has been riding the laser trend since the company's founding in Russia in 1990. The company is now based in Massachusetts. IPG's debut on the Nasdaq came in 2006. IPG makes fiber lasers, which are used in materials processing and medical and telecommunications applications. The expansion of applications is behind much of