go-kitesurf - Well said, and given that line of thinking, I would argue that a good measure of future performance is one's past performance.
To that end, since Wave is known to not be in control of its own destiny here, and since it is also known that when these dependencies exist, Wave (or should I say, their champion) rarely, if ever, hits a delivery date. Past performance would then indicate that delays are certainly possible, if not likely.
However, this time I think that Steven was well aware that his credibility is squarely on the line. The HP/Compaq order that never materialized should have educated him on the dangers of speaking without a signed contract in hand. I hope that he didn't do that again this time.
We were told at the shareholders meeting that we could bank on the fact that there would be 4th quarter product shipments, and that's exactly what I'm doing. If there aren't, then I'd be inclined to not believe a word Steven tells me from that point forward.
Not because I think he's a liar or anything, but more, because I'd have to be insane at that point to believe that he has any control over execution. It's already obvious to me that his schedules are unreliable, and controlled by the behemouths.
The definition of insanity is one who sees the same thing happen again and again, yet expects a different outcome.
Unless Wave (Steven) can say there's a signed contract with definitive numbers, then you can't rely on his guidance. At the SHM, Steven did say that Intel had no obligations. They could ship as many, or as few as they wanted. They could use replacement product at any time, and they (Intel) controlled how many (if any) they wanted to roll-out.
Doesn't sound like a great deal of certainty in that.
