I don't consider myself an expert on FNSR and have not yet listened to their latest conference call. However I think the market may be overly discounting FNSR which is on track to be a major supplier of VCSELs for 3D sensing applications in smartphones, automotive, etc. Their traditional telecom market is very cyclical with lots of competition (especially China) and contributes to their low valuation. To summarize, they "don't get no respect" for the VCSEL opportunity IMHO.
BTW Kirk follows them closely and may have some comments. (EDIT: He declined to say anything.)
Just a quick glance at the conference call transcript and saw this comment by the CEO:
Jerry Rawls
3D sensing is essentially gigantic. If all the customers and the consumer space and the automotive space really build systems and deploy them as they are -- they have indicated to us recently, then, no matter how big this building is that we just bought, and fill it full of equipment, it’s unlikely that we can supply all of the demand that we’ll need to supply. So, I mean, it’s measured in billions of dollars and it’s really hard to project today that how many of these applications are people really going to field. But, I’ll just tell you, we are building arrays for a lot of different people in both mobile and in automotive, some of them are quite small arrays and some of them are gigantic arrays, so. |
