Joe, the market cap of HDTV at $10/share will be $350 MM, not too excessive if you assume that at the high end, they can get in excess of $200 per chip set and about a million unit per year could be sold. Not too many companies with large potential are selling at 1 to 2 times their potential sales in three years. As the HDTV sets costs drops to the $1000 level, the market could very well increase to the 10/20 MM per year, and of course their revenue per chip set drop down to the $50/$100. In the very large display arena, the only other two options are plasma (intrinsically expensive) and DLP (which I believe is reaching the limits of resolution, below the HDTV standards set by industry). AMLCD type of approaches suffers great yield reduction as the size increases.
Last, but not least, their projection engine should find its way into many other applications, once they go down the "learning curve" of cost. One interesting possibility (which for some reason I cannot find on their site) is that the technology can be used for 3D HDTV (all they need to do is double the switching frequency). Plasma probably cannot, and micromirrors are going to be "stressed" at twice the frequency.
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