<p>My last post. CC isn't over - but to my untrained ears it sounds like they very deftly managed questions, making clear where and why expectations have not/will not be quite what they hoped, but at the same time using words like 'very' and extremely' (positive confidence) about future growth and prospects, and why. Can't recall if it was INFN or AMD that a couple years ago had a woman exec who had already accepted a job somewhere else that answered questions with a 'right?' at the end of each sentence, as though she were asking the analysts to confirm what she was staying. Sounds to me that they managed this as well as almost any previous CC. Be interesting to see how the analysts spin this CC - conceivably that they could latch onto statements about slowdowns or current somewhat disappointing news, but I think they've presented a confidence about growth that could just as well or more push the stock higher. Might mention that earlier they basaically endorsed the view that the sector is poised for secular growth - there will be winners, there will be consolidation - they clearly count themseles as cutting-edge 'winners.'

Ulp - just checked AH as they seem to be going into the last part of the Q and A - last INFN trade now at $23.00.  - up from close of (?) about 21.30 IIRC. May mean covered calls likely to be ITM - thanks again to Jon - nice call.

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