Which budget estimates would those be and when. The timing of it and maturity of the product that matters.
I am just wondering if investors as you describe then have had expectations in earlier years of development to have estimates that are accurate. If you believed that is even possible, I have a bridge to sell you. The estimates are never function of exceptions meaning that they can not account for failures in any pass.
It is like this:
If X that is estimated to happen, happens then
---if Y that is estimated to happen, happens then
-----if Z that is estimated to happen, happens then
---------etc
This type prediction or estimate is done for something that has never been designed before without using any template as a reference so obviously those estimates are pretty much a wild guess that firms up over time. That is why there has to be reduced features and expectations so that there is no planning for vaporware and moving goal posts.
It is naivete on part of investors that could be a bigger factor here because they move the stock up and down illogically based on talking points like blah blah verb, a vaporware that I recall.
Events that are firming up the process are material event only, like hardware freeze and things like that so you know that somethings are completed and that the device of gadget is getting to finish line.
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