| Report Summary |
| IRM Short Idea | 2008-03-18 | Tuttle, Kris | This short 2 page reports outlines our points for shorting Iron Mountain (IRM) and provides a fair value target of $19. (subscriber only) |
| HP Software Report | 2008-03-17 | Byron, Dennis | This 12 page report looks at the HP software business in a similar fashion as the IBM analysis we did in June. The HP story is not as good. (subscriber only) |
| Enterprise 2.0 Trends | 2008-02-28 | Byron, Dennis | This 8 page report looks at the top five trends in our Enterprise 2.0 Theme for 2008. It also talks about how the major players are positioned and how they are changing. (subscriber only) |
| Short Idea: Constant Contact | 2008-02-19 | Tuttle, Kris | We outline the issues for CTCT in the market and highlight the risks that make the stock worth $14/share at the most. It's a hyper-competitive market and they have very optimistic expectations baked into their long-term model. (subscriber only) |
| NetSuite IPO Preview | 2007-12-18 | Tuttle, Kris | Despite the aggressive pricing and huge pop in the shares we find this company unexciting as an investment. Our fair value analysis suggests a $12 stock. (subscriber only) |
| MEMSIC IPO Preview | 2007-12-13 | Tuttle, Kris | Our pre-IPO view of MEMS was very favorable. Despite their favorable position and prospects it appears that they company has taken a turn for the worse. This report still highlights their potential to be a $21 stock. (subscriber only) |
| Microsoft Goes "LIVE" | 2007-12-03 | Byron, Dennis | This 19 page report goes into the detail of Microsoft's business and strategy to take their six software businesses into the SaaS world via their "Live" initiatives. (subscriber only) |
| SOA SaaS and OSS | 2007-11-28 | Byron, Dennis | The combination of SOA, SaaS and OSS provides opportunities and challenges for investors and the established vendors. (subscriber only) |
| On Demand Air Travel | 2007-09-18 | Tuttle, Kris | On Demand Air Travel Initial Industry Report. (subscriber only) |
| Skype Concerns | 2007-08-30 | Tuttle, Kris | Our Skype readings have been trending down in the midst of some worrisome signals from management. (free) |
| Netezza July Q Update | 2007-08-28 | Tuttle, Kris | Netezza reports July Quarter. Higher share count and tax rate force fair value down to $17/share. (subscriber only) |
| Data Domain (DDUP) June Update | 2007-07-31 | Tuttle, Kris | Data Domain reports earnings from their June Quarter. (subscriber only) |
| SAP Company Report | 2007-07-23 | Byron, Dennis | Full company report on SAP. 14 pages. (subscriber only) |
| Netezza IPO Report | 2007-07-17 | Tuttle, Kris | Netezza 8 page company IPO report. (subscriber only) |
| Limelight Update | 2007-07-05 | Tuttle, Kris | Limelight Networks (LLNW) has been volatile post its recent IPO. While there are no fundamental changes to the
story as outlined in our original report of June 5, 2007, there have been some positive developments in the patent
dispute with Akamai. We had a chance to review the initial ruling report from last week and dig a little deeper into
the questions it raises. (subscriber only) |
| IBM Software Group Report | 2007-06-19 | Byron, Dennis | IBM software group: tactical complement or strategic linchpin? We believe software is a tactical holding action for IBM until the
IBM “services1“ strategy is fully in play, rather than the software
business being a strategic linchpin for IBM. IT-related business,
technical and management services are the primary markets that IBM
wants to participate in, and software simply provides a strong
complement to the three. The growing importance IBM has put on
its services businesses over the 2003 to 2006 timeframe means there
might be no need for investors to watch the IBM software business
separately. (subscriber only) |
| Data Domain (DDUP) IPO Report | 2007-06-12 | Tuttle, Kris | Data Domain (DDUP) is showing explosive growth thanks to its ability to leverage indirect distribution channels
to exploit demand for more efficient global backup solutions. We viewed the prospectus with some skepticism
and have identified some real reservations. However, our long-term valuation model suggests a fair value for the
shares of $23. (subscriber only) |
| Limelight Networks IPO Company Report | 2007-06-05 | Tuttle, Kris | Limelight Networks (LLNW) is a rapidly growing player in the very hot segment of content-delivery networks.
Investors are already familiar with the space thanks to the stellar success of Akamai (AKAM - $44.) Limelight
products and services have a few extra bells and whistles owing to its more recent start but are largely similar to
those already available. (subscriber only) |
| May 2007 Monthly | 2007-05-31 | Tuttle, Kris | This month we took a fresh look at .NET and provide an update on SOA. With all the hoopla around Google and Apple there are some very strong developments coming from Microsoft that investment community may be missing.
Highlights for this issue:
· Not your grandfather's .NET
· The new client software battle royal: Vista vs. Apollo vs. Open Source
· SOA is dead, long live SOA.
· Stock story updates: MEMC, AT&T, 3Com
· Adoption Watch
(free) |
| April 2007 Monthly | 2007-04-30 | Tuttle, Kris | Highlights of this issue are:
· What would Gödel do?
· Silicon is the new black
· How big is virtualization?
· Oracle digs deeper into SaaS.
· Adoption Watch and Random Bits. (free) |
| March 2007 Monthly | 2007-03-30 | Tuttle, Kris | In March we introduce our rationale for the energy technology sector, dress up two old names in new clothes (AT&T and 3Com) and round up some usual suspects. (Mar 2007) (free) |
| February 2007 Monthly | 2007-02-26 | Tuttle, Kris | Our February monthly includes our working definition for successful software, an udpate on information management, profiles of Zimbra and WordPress and an update on metrics. (free) |
| Web 20 - December 2006 | 2006-12-06 | Bishop, Peter | The Web 20 Report for December 2006 (free) |
| Web 20 - November 2006 | 2006-11-07 | Bishop, Peter | The Web 20 Report for November 2006 (free) |
| Content Delivery Networks and the Application Acceleration Vendors | 2006-10-30 | Bishop, Peter | We believe that changes in software architecture and emerging business models will drive adoption of a networking stack that specializes in handling the dynamic delivery of content and application components. This initial report covers the basics for investors interested in this market, discusses the public and private players and sets the stage for our continued and expanded coverage of this sector. (free) |
| Web 20 - October 2006 | 2006-10-05 | Bishop, Peter | The Web 20 Report for October 2006 (free) |
| Web 20 - September 2006 | 2006-09-04 | Tuttle, Kris | The Web 20 Report for September 2006 (free) |
| ESCC Update Report August 2006 | 2006-08-29 | Tuttle, Kris | Some of the smoke has finally cleared at Evans & Sutherland as they completed the bulk of their re-structuring to focus on digital graphics systems. [The original report is included here for background.] This is a micro-cap situation but one that we find interesting given the potential around ultra-high resolution graphics for which applications like Google Earth are creating increasing awareness and interest. (free) |
| Web 20 - August 2006 | 2006-08-01 | Tuttle, Kris | The Web 20 Report for August 2006 (free) |
| Web 20 - July 2006 | 2006-07-01 | Tuttle, Kris | The Web 20 Report for July 2006 (free) |
| FiRe 2006 Report | 2006-06-27 | Tuttle, Kris | The annual Future in Review conference is a thought‐provoking event held each May. It focuses on technology but also includes broader topics like education and geopolitics.
This report examines a few choice threads and goes on to touch on array of interesting small points and comments that emerged. (free) |
| Web 20 - June 2006 | 2006-06-01 | Tuttle, Kris | The Web 20 Report for June 2006 (free) |
| Web 20 - May 2006 | 2006-05-01 | Tuttle, Kris | The Web 20 Report for May 2006 (free) |
| Web 20 - April 2006 | 2006-04-03 | Tuttle, Kris | The Web 20 Report for April 2006 (free) |
| MIT 2005 R&D Conference Report | 2006-02-06 | Tuttle, Kris | This summary of the 2005 MIT R&D conference highlights some opportunities in silicon wafers, quantum computing, biological engineering and IT and photonics. (free) |
| 2005 Web 2.0 Conference Report | 2006-01-12 | Tuttle, Kris | Not a transcript but 25 pages of more or less exactly what everyone said at the 2005 Web 2.0 Event. (free) |
| 2005-05-05 | Tuttle, Kris | Summary of valuations by company type with a little commentary. (free) |
| Software Valuations 0405 | 2005-04-29 | Tuttle, Kris | Five pages of software company valuations. (free) |
| Binding Problem I | 2005-04-05 | Tuttle, Kris | This report begins to document the emerging solution to the biggest technical problem in computing which we call the Binding Problem. This should keep us busy through 2015. (free) |
| Software Valuations 0305 | 2005-04-05 | Tuttle, Kris | Software universe valuations ending 3/31/05. (free) |