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13	member 5/21/19 5:10PM Re: Re: Re: Huawei 12
greenshoes- did you mean to say that prices (not costs) will decline? i.e. prices for new reg-compliant string inverters? view available tags
11	member 5/16/19 10:15AM Re: Huawei 10
Falcon44, thank you for the write-up! Any update to the thesis given the recent executive order targeting Huawei? thanks, Trev62 view available tags
10	member 1/03/19 11:04AM Huawei
Hi falcon44, thanks for the interesting write up. I had a simple question: did Huawei actually ship a single optimizer in the US? My understanding is that it was supposed to ship in the summer /... login to read the rest view available tags
8	member 11/13/18 1:45PM Re: Re: Re: Re: Re: 8 Times Earnings 5
SEDG and ENPH have over 80% market share in the US market, which isn't growing. With the entry of Huawei and re-entry of the string-inverter players with solutions that conform to the new standards should... login to read the rest view available tags
7	member 11/13/18 12:32PM Re: Re: Re: Re: Re: Re: 8 Times Earnings 6
Hi Bismarck, there are at least two Asian OEMs that already sell string inverters into some combination of TSLA/RUN/VSLR that we believe are planning solar optimizer launches. These companies attended SPI Anaheim, so it should be fairly... login to read the rest -1 view available tags
6	member 11/13/18 10:44AM Re: Re: Re: Re: Re: 8 Times Earnings 5
Hi Falcon, if you do not mind, could you share a few of the more credible Asia based competitors which you think will be on the market in 2019? Thank you view available tags
5	member 11/13/18 9:56AM Re: Re: Re: Re: 8 Times Earnings 4
Hi ima, I'd be curious what your short thesis is if you think SEDG is going to sustain its competitive advantage? Why are you short today if you believe that? I am pretty sure the bull... login to read the rest view available tags
4	member 11/12/18 10:19PM Re: Re: Re: 8 Times Earnings 3
We are short as well and agree that 2019 should be a down year both for revenue and earnings, but have a more conservative downside scenario. SolarEdge has a good product - it is also... login to read the rest view available tags
3	member 11/12/18 7:19PM Re: Re: 8 Times Earnings 2
Also worth noting that ENPH stock went from $15 in March 2015 to $1.70 in November 2015. The market turns on these types of business quickly when they lose big customers, face ASP deflation, and... login to read the rest view available tags
2	member 11/12/18 7:07PM Re: 8 Times Earnings 1
Hi Light62, trough earnings for this company would be a negative number in our view. For context, S92 GY printed negative EPS for 11 quarters in a row from 2012-2015. You're right S92 is trading at... login to read the rest 1 view available tags

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			2014	2015
Price:	19.00	EPS	breakeven	$0.40
Shares Out. (in M):	44	P/E	n/a	50.0x
Market Cap (in $M):	825	P/FCF	n/a	n/a
Net Debt (in $M):	-40	EBIT	-5	20
TEV (in $M):	785	TEV/EBIT	N/A	39.0x
Borrow Cost:	NA

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