Oppenheimer defines their “Perform” rating as...
“Stock expected to perform in line with S&P 500 within the next 12 – 18 months.”
Here’s the link to my two part post on the subject…
On February 8th, Oppenheimer published a ten page report update…
In depth reading of this report update is certainly recommended. However, here’s the summary…
February 8, 2010
Green Lasers Ramping Up
Last Friday brought a bit of good news about the availability of green lasers, the key gating factor for the production ramp of Microvision's pico projector. The news was delivered during an Investor Day event held by Corning (GLW, $18.05, O), currently the world's only supplier of green lasers. Corning had missed a number of ramp-up targets over the course of 2009, but now appears on track and is currently producing 1K green lasers per week and still growing. As such, green laser availability should not pose a roadblock for our current MVIS volume estimates, which target 8K unit in 1Q10 and 83K units for FY10.
• Corning also noted that it is currently working on a second generation green laser, which will double its output to 20 lumens from 10 lumens. Corning does not see the quantum dot laser technology as a competitive threat, as its efficiency and brightness remain low.
• Bottom line: while we believe the value proposition of the ShowWX and the PicoP embedded module still need to prove themselves in the market, it appears component availability is set to become less of a gating factor near term.
From what I hear, we are still on track to launch SHOWwx for the US market in March of 2010.