Tuesday, August 15, 2017

I think this is under 250 words Brendan,$EMAN is one of his Lotto Tix

eMagin (EMAN), $2.30 pps, $80m cap, 10x+ upside. Key facts:
  • EMAN makes HD quality displays the size of quarters.
  • Their architecture is OLED which allows many fundamental probably insurmountable benefits over incumbent techs like LCD and LCoS.
  • The displays are great but expensive. EMAN's $20-25m sales run-rate consists of a few tens of thousands of displays, priced at several hundred dollars apiece, mostly to military OEM's for portable optical devices like night vision goggles and weapon's sights.
  • Consumer and industrial AR/VR are probably getting ready to go, and millions of units per year are plausible in the medium-term. EMAN says if it wins a few low mix high volume deals they can dramatically drive down costs and win share. Further, they say that for many applications non-OLED options aren't good enough.
  • OLED is an extremely hard tech to master, very low yields, which makes EMAN's two decades of expertise all the more valuable. Makes competitive entry in the micro format - which pixels are packed super densely - all the more difficult.
  • The combo of massive potential market growth, micro OLED leadership, difficulty of entry, and insufficient performance from competitive display techs makes EMAN an obvious lotto ticket.

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