Agreed - at least in terms of price sensitive markets because there will always be those whose budget is not unlimited - until the new tech becomes more affordable which I think was your point.
But - "IF" - the chips meet expectations of not just being good enough for a niche market and totally dominates the market, then the margin that could be applied (profit to cost of production) would surely be very high - given that the moat is wide due to the technology developed. My view of that expectation being that there was at least 100 Hz to 20 kHz range with near zero distortion and boom box sound (i.e. very loud to my uneducated mind). Already known features are form factor (thin), direct to digital capability, directional sound, 90% - 95% less battery power usage (full chip), and simple one chip fits all with a known performance spec v's having to design individual systems for each new device. Any one of these would give it a niche market, but the performance specs will reveal all. It will be niche or it will dominate completely. I suspect, and hope, the later.
So - "IF" - the margin was 100% and I believe that it could well be that high in the early stages when addressing the purely "got to have the latest and best tech at any cost" market, then the early growth potential is doubling every 6 months (based on 4 months fab and 2 months for packaging, distribution and receipt of invoices). So I don't agree with the "modest gains" statement on that basis.
Just dreaming of course, but imagine what else could be achieved if the research division got a healthy budget to build on what has already been developed .... periodic doldrums would be short : )
AKP Price at posting:
$20.10 Sentiment: Buy Disclosure: Held
(20min delay)