eamonn,
from the place Wave starts, doubling each quarter isn't the challenge it is for a larger cellular company!
The 97% q-over-q number is a mathematical result, rather than a judgement call. It drops out of three assumptions:
1. ETSL was incorporated in approximately 6% of Dell's and Gateway's machines in Q2, 06 (this number is based on comments made by Wave about the source of its growth in last quarter's report).
2. ETSL will be incorporated in close to 100% of Dell's and Gateway's machines in Q2, 07 (this is the only way I can make sense of Steven's confidence re breakeven in Q2, 07 at 50 cents per unit - he must have seen the OEMs' deployment schedules).
3. The growth rate will be steady.
Personal judgement: I don't think the notion that Dell and Gateway will have TPMs on all their machines by the middle of next year is unlikely. And the way companies ramp products often builds steadily along a curve, rather than in a straight line. I doubt the numbers will be exactly right. But I expect them to be close.
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