|We study non planar corrections to the spectrum of
operators in the N = 2 supersymmetric Yang Mills
theory which are dual to string states in the maximally supersymmetric pp-wave background with a compact
light-cone direction. The existence of a positive
definite discrete light-cone momentum greatly
simplifies the operator mixing problem.
We give some examples where the contribution
of all orders in non-planar diagrams can be
On the string theory side this corresponds
to finding the spectrum of a string state
to all orders in string loop corrections.