Earnings Estimate Cheat Sheet – Jan 28-29, 2008

Estimated Reporting Date	Symbol	Revenue Estimate Current Q	Operating Profit Estimate Current Q	EPS Estimate Current Q	EBITDA Estimate Current Q	Revenue Estimate Next Q	Sequential Revenue Growth Estimate, Percent	Operating Profit Estimate Next Q	EPS Estimate Next Q	EBITDA Estimate Next Q	Revenue Estimate Full Year	Operating Profit Estimate Full Year	EPS Estimate Full Year	EBITDA Estimate Full Year	Revenue Estimate Next Year	Operating Profit Estimate Next Year	EPS Estimate Next Year	EBITDA Estimate Next Year
1/28/2008	ACTS	33.1	9.6	0.15	--	27.6	-16.67%	7.0	0.12	--	117.3	35.6	0.53	42.2	128.3	36.3	0.54	44.0
1/28/2008	ATHR	113.9	19.5	0.30	--	113.7	-0.17%	17.7	0.27	--	416.6	65.9	1.07	74.8	511.6	85.9	1.30	93.3
1/28/2008	AXP	7,848.0	--	0.71	--	7,283.4	-7.19%	--	0.85	--	28,403.6	--	3.37	5,776.1	30,717.1	--	3.49	5,891.2
1/28/2008	ESST	18.4	0.2	0.00	--	15.1	-17.93%	(0.8)	(0.02)	--	71.0	--	(0.07)	--	65.9	(1.6)	(0.03)	--
1/24/2008	MSPD	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--
1/28/2008	PLXT	22.0	1.5	0.06	--	22.9	3.95%	2.5	0.09	--	81.7	5.0	0.24	--	97.5	14.4	0.43	--
1/28/2008	SNDK	1,269.9	201.1	0.64	266.5	1,004.5	-20.90%	119.0	0.39	113.9	3,923.3	474.2	1.67	615.8	4,879.3	810.4	2.36	866.7
1/28/2008	VLTR	19.6	1.7	0.08	2.2	20.0	1.83%	1.9	0.08	2.3	74.6	2.1	0.16	4.0	93.3	13.4	0.51	15.5
1/28/2008	VMW	417.4	110.9	0.24	140.7	436.4	4.56%	109.3	0.24	136.4	1,330.7	340.5	0.80	427.7	2,077.7	552.8	1.17	670.9
1/28/2008	ZRAN	130.8	15.0	0.32	16.9	122.4	-6.48%	10.6	0.24	12.0	508.8	61.6	1.35	64.1	565.5	68.9	1.39	70.6
1/29/2008	AMIS	154.6	24.5	0.17	--	152.0	-1.66%	22.0	0.16	--	616.7	86.2	0.65	155.5	650.0	102.8	0.77	179.0
1/29/2008	ANEN	31.7	3.7	0.20	4.4	32.6	2.70%	3.9	0.23	5.0	132.9	15.5	0.90	23.1	147.8	20.1	1.10	24.0
1/29/2008	BBOX	256.8	26.8	0.81	33.2	252.8	-1.52%	26.5	0.80	29.6	1,022.5	99.0	3.12	125.5	1,060.3	119.0	3.66	141.0
2/1/2008	CYMI	--	--	--	36.2	--	--	--	--	36.2	--	--	--	140.4	--	--	--	155.0
1/29/2008	FDRY	166.1	45.1	0.23	--	164.0	-1.21%	41.1	0.21	--	604.1	140.4	0.75	--	699.3	181.8	0.91	--
1/29/2008	FLEX	8,422.9	280.4	0.26	378.7	7,774.9	-7.69%	263.5	0.23	376.2	26,884.0	873.8	0.95	1,250.8	35,698.3	1,322.9	1.22	1,758.7
1/29/2008	HIFN	11.7	0.4	0.06	--	12.5	7.25%	0.7	0.08	--	51.8	2.8	0.32	--	--	--	0.70	--
1/29/2008	HLIT	83.6	11.8	0.15	--	79.3	-5.12%	10.5	0.14	--	307.4	35.4	0.48	62.1	351.1	51.1	0.65	--
1/29/2008	HTCH	205.8	11.9	0.37	41.9	195.7	-4.87%	8.6	0.28	37.0	801.5	39.7	1.21	155.6	876.8	68.3	1.65	161.9
1/29/2008	IFX	--	--	--	--	--	--	--	--	--	10,727.0	--	(1.61)	1,083.0	12,903.0	--	0.06	2,838.0
1/29/2008	IKAN	30.0	(1.1)	0.01	--	30.7	2.27%	(1.0)	0.01	--	107.7	(17.4)	(0.43)	--	131.7	0.5	0.18	--
1/29/2008	INFA	109.3	23.1	0.22	--	101.3	-7.26%	18.7	0.16	--	386.7	68.5	0.72	78.0	444.1	91.2	0.74	97.0
1/29/2008	LXK	1,295.0	65.2	0.58	106.2	1,203.8	-7.04%	84.8	0.80	127.9	4,963.7	292.0	2.75	467.1	4,779.1	293.1	2.72	466.0
1/28/2008	NETL	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--
1/29/2008	PXLW	26.5	(0.4)	(0.01)	--	24.9	-6.22%	(1.5)	(0.02)	--	105.5	(11.9)	(0.22)	--	111.3	(3.6)	(0.02)	--
2/5/2008	SMI	--	--	(0.05)	--	--	--	--	(0.05)	--	--	--	(0.09)	708.2	--	--	0.02	787.7
1/29/2008	WBSN	78.1	19.0	0.23	20.0	77.0	-1.49%	21.2	0.26	--	226.4	56.9	0.90	62.4	309.5	90.9	1.13	98.0
1/29/2008	YHOO	1,407.6	176.1	0.11	379.8	1,371.0	-2.60%	167.7	0.12	321.1	5,121.0	693.7	0.43	1,341.4	5,917.9	875.9	0.53	1,758.5

The "missing" iPhones

The cell phone business is a channel fill. When a company comes out with a new phone, they seed the channel so stores have the phones in inventory when a customer walks in and wants to sign up.

With all the glowing reviews the iPhone received, it's no wonder the channel would be full of product. I know a few people waiting for a 3G version -- the edge network is just slow. AT&T service is still spotty in New York somehow.

Personally, I had an iPhone for a few days. My thumbs are gigantic. Seriously. Just huge thumbs. The sleek keyboard just didn't work with my ogre-like digits. The web-page resizing feature is very cool but sooo annoying. I spent half the time surfing resizing the screen so I could fit what I wanted to see to the display. I had to return it. My wife has slim fingers and she loves her iPhone. I still look at it with some covetous discomfort but it's not for me yet.

I think Apple may have fallen prey to a lack of market knowledge in revealing too much about the sales of the product. They're not cell phone guys.

The pricing of the product in Europe is just astoundingly expensive -- it's a $700 phone there. That's just silly. Sales in Europe have been disappointing and it's no wonder. They need to cut the price there, same as they did here a couple of months into selling it.

As to the missing iPhones... they're not missing. They're right where they're supposed to be, in the stores... waiting to be bought. As the iPhone is an expensive ticket and so consumer-oriented, they're probably going to see seasonal softness in the post-holiday sales. They've been cutting back on component purchases across the board.

This creates a difficult environment for the stock. With half of the business tied to the iPod and iPhone, it's hard to make a case it's going anywhere anytime soon. The chart suggests $120 is the next possible bounce level.